I want to set up a new site called

I want to set up a new site called globalentrepreneurstoolbox.com and I want it to use the same database as womenstoolbox.com including that the users can use one login – I want to use the same theme but I want to change the colors on the globalentrepreneurstoolbox.com to be different than womenstoolbox.com. Is it possible to set up two wp sites that access the same wp db? is that called multi site? let me know what you think. thanks