[SalesForce] Using Mavensmate with multiple developers and with multiple unrelated salesforce orgs

I have been using MavensMate with Sublime Text by myself with one salesforce sandbox org. I store my code in Bitbucket.

Now I will be working in two different orgs and will add multiple developers. Eventually we will be merging into one org but for now they are separate organizations.

A few questions:

1. Do any of the sublime configuration files get shared among developers, should they be in source control or should each developer have their own project configuration files? If shared, which specific files?

2. How do I create a MavensMate project for the second org? I have loaded it onto my file system with ant migration tool. I copied the folder into MavensMate and selected new project but the window that opens has the name of my other repository, not the new one and I do not see how to change it.

There does not seem to be a way to close one project and open another so I am confused on how to work on two separate projects in two separate repositories.

Additional Info:
I have gotten the answer I need for question 1, thank you for all the replies.

For my directory structure what I have is :

my bitbucketfolder
    non SF Project1
    non SF Project2
    SF org repo
            project folder A
                    src
                    config
                    debug
                    project A.sublime-project
            prod metadata
                    appmenus
                    approvalprocesses
                    ...
            full sandbox metadata
                    appmenus
                    approvalprocesses
                    ...
    New org repo
            project folder B
                    src
                    debug
                    config  

My mm workspace is "SF org repo" When I created the MavensMate project for project B, it was moved into this workspace and deleted from "New org repo".

What I think I need is to have 2 different mm workspaces but I do not see a way in the "create mavensmate project" to select a different one.

I have tried moving the workspace config into the project settings for project instead of the user settings and it did not work (error: "Please ensure mm_workspace is set to existing location(s) on your local drive"). I have tried putting 2 workspace paths in the user settings and I get parse errors when I try to save the settings on the line following the mm_workspace.