You can simply use the attribute layout-alignwith the element spanto get the desired result.
Here is the code.
<md-list style="background-color:red">
<md-list-item class="md-2-line">
<div class="md-list-item-text" layout="row" layout-align="start center">
<span flex="10">Title</span>
<span flex="5"></span>
<span flex="30">Dessciption</span>
</div>
</md-list-item>
<md-list-item class="md-2-line" ng-repeat="item in todos">
<div class="md-list-item-text" layout="row" layout-align="start center">
<span flex="10">{{item.title}}</span>
<span flex="5"></span>
<span flex="30">{{item.description}}</span>
</div>
</md-list-item>
</md-list>
Working example. http://codepen.io/next1/pen/oLWpPG
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