Wow. I haven't read the other answers yet.
I don't think the 2-minute time-outs or taking a toy away is working here.
When you have a nice quiet everything-is-fine moment,
you need to sit down with her for a BIG GIRL CONVERSATION.
Before you do this, you'll need to think/plan ahead of time w/DH
just WHAT you want, what needs to change, etc.
So, in this BIG GIRL CONVERSATION,
you're going to tell her that from now on
this kind of screaming (and whatever other behavior)
will no longer be tolerated in your home.
Your home will be a quiet, well-mannered home
where everyone treats everyone else with respect and dignity.
You understand that this will be a big change for her
so you're going to give her opportunities to learn new ways
to speak and behave.
And, in this BIG GIRL CONVERSATION, you will demonstrate
various ways of speaking politely, asking for things (please and thank you), etc. You will help her learn this new way of being.
Also, you'll explain to her how much happier everyone will be
from now on after you have all switched
to this new way of treating one another.
And then, still in this BIG GIRL CONVERSATION,
you'll do a little practice session.
Set up various situations and have her practice with you.
I think I'll stop here and see what the other moms have advised.