**Disclaimer: I ain't no chemist**
TLDR: I put in several hours research to find an equivalent fluid. I couldn't find any support that ATF or Brake Fluid were equivalent substitutes. I didn't check other car manufacturers' AHC fluids. I'm planning to stick with Toyota's fluid.
The MSDS suggests is is ether based with some light and medium paraffins. Brake fluid is also ether based, but is significantly more complex.
AFT is much gentler to almost all materials than ether based lubricants (and bonus: it doesn't absorb water), but I would be concerned that the viscosity is not the same. The AHC fluid not only holds up the vehicle, but also provides damping by pushing the fluid through a small opening (as all oil-based dampers do). Thicker fluid = stiffer dampening. I've ordered a jug of Toyota AHC fluid, I'll see if I can compare the viscosity by timing a fixed volume of each through a small funnel.
In my experience spec'ing lubricants for work, you avoid ether based fluids if you can, because it is acidic and because it absorbs water, which increases the maintenance requirements and increases the risk of corrosion to components. The big plus of it is it has the highest temperature limit. If you are driving the never-ending washboards of the Australian outback ATF might overheat. If you drive like me, this probably isn't an issue.
I've attached the AHC MSDS if someone else wants to take a crack at it.