Well I am a total newbie so bare with me. I read that redhat 8 can use iptables or ipchains, is this true? All I am really concerned about it setting up my redhat 8 machine to be a router for one other machine. I have the nic's in the redhat 8 machine and such, but now I am clueless on what to do next. I know I have to enable IP masquerading and such, however I am pretty clueless on all that. Thanks for the help and any good suggestions on how to get a simple router, ip masquerading going in redhat 8 will be greatly appreciated!

Forget about ipchains. Iptables are more powerful and same easy. Look here for fine description.

for simple firewall settings you can use redhat-config-securityleve prog.

use iptables.