First, can this be done on the same Moodle account?
Second, is there a quick and easy way to ensure the second site is operating under the same settings as the first site?
There's no automated way to keep two MoodleCloud sites synchronised. You can backup your courses and restore them in the second site, but this will be a manual process that you have to repeat in order to keep the sites synchronised.
If you need more users or storage, the best way is to upgrade to a bigger plan.