Should I setup a new AppleID for the new iPhone?

Unless you have a very specific reason to want a new Apple ID, in general, the Apple ID should be the same one you have, as it contains all purchases, and content you have acquired on the older iPhone.

iCloud as such is also tied to the Apple ID, and yes, you can only use one Apple ID with iCloud for Windows at any one time.

So unless there is any reason you do not want to be able to access all of your previously purchased content, iCloud files, contacts, calendar and email on the new iPhone, the recommended action is to simply log on with your Apple ID on the new iPhone.

This will also let you transfer everything from the old iPhone to the new one during setup.

link-> Transfer data from your previous iOS device to your new iPhone, iPad, or iPod touch - Apple Support

You can use the same apple id and add multiple numbers to use with it

It’s up to you but before making the decision you should understand that using the same appleID with iCloud on more than one phone means that both phones will receive iMessages and SMS sent to either number. Also it gives you the option of having your messages originate from either number. You will also share the same photos, icloud email account, contacts, notes, reminders, Safari bookmarks among other things and both phones will be able to locate each other if you have “Find My iPhone” turned on. If that’s useful to you then go for it. If you just want to share apps but don’t want to share personal data you can sign into the App Store with the same appleID on both phones and use different ones for iCloud. You can also share music, apps and iCloud drive space without using the same appleID by using Family Sharing.