stephencottontail on "Need help creating child theme for Arcade Basic"

Oh wait, Im a little confused... so to enqueue editor-style.css, do I need to add the entire snippet of code like I did for the style.css

No, you should use WordPress' built-in specialty function to enqueue your editor stylesheet. In your child theme's functions.php, add this code at the end

function my_theme_add_editor_styles() {
    add_editor_style( 'editor-style.css' );
}
add_action( 'after_setup_theme', 'my_theme_add_editor_styles' );

And then just to clarify, for any .php file I want to edit, i need to make a new identical file in the child theme, copy and paste the entire code over and make my changes there or just the snippets of code I am wanting to change?

You need to copy and paste the entire code from the parent theme's version of the file and then edit the parts you need to change. WordPress won't use the parent theme's version of the file at all, so if you don't have all the required code in the child theme's version, something probably won't look right.