No April, you can’t transfer Montgomery GI Bill (MGIB) benefits to dependents. The Air Force did run a limited test MGIB benefits transfer program to spouses and dependents back a few years ago, but they abandon it due to lack of participation.
If you would have still been serving on August 1, 2009, you could have switched to the Post 9/11 GI Bill and then transferred benefits to your children.
Several legislation bills, that would allow transferring benefits to dependents after retiring, have been introduced each year during the last few years, but none have been ever approved. Maybe in the future, one of the bills will pass and allow the transferring of MGIB benefits.