You have to measure between a certain number of links on several points on the chain. If the elongation of the chain is more than 122.6mm over 16 links, then the chain is bad.
Like I said, there really is no set inspection interval - any competent mechanic or dealership will be able to do this work. Most will do an audible check only, if there is excessive timing chain noise - you'll likely have other issues to worry about.
Still some owners like to check on these things - ones that I know that have checked on the chain haven't run into any chain elongation issues - some had more than 400K miles on their 1ZZ-FE engines! Then again, some people had their chains blow out at less than 30K miles.
I chalk this up to one of those things that only need to check if the engine seemed to have lost timing - or you experience a lot of chain noise. You'll know it if that is the case - as the engine will run very poorly, sound like you poured in a handful of BBs in the engine.