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Is this garage a detached structure from the house? Or is it attached? The answer to that question makes all the difference in the world.
Assuming it is attached: You can not use a single circuit to provide both 120 & 240 volt receptacles without a sub panel. You cannot use the existing 3 wire dryer circuit to add a sub panel as it requires 4 wires. What you could do is use the existing dryer circuit to provide a 240 volt circuit for your saw. Change the breaker to a 15 or 20 amp double pole. Run a new 12-2 cable from the breaker panel to install the 120 volt receptacles.
If the garage is detached, ignore what I have said above.
Assuming it is attached: You can not use a single circuit to provide both 120 & 240 volt receptacles without a sub panel. You cannot use the existing 3 wire dryer circuit to add a sub panel as it requires 4 wires. What you could do is use the existing dryer circuit to provide a 240 volt circuit for your saw. Change the breaker to a 15 or 20 amp double pole. Run a new 12-2 cable from the breaker panel to install the 120 volt receptacles.
If the garage is detached, ignore what I have said above.