Ride Up Walls: IM ■, ■

Living Hellfire Chain: If Ghost Rider has two action tokens, you may give him a free action and deal 1 penetrating damage to a single opposing character within 3 squares.

Penance Stare: Ghost Rider deals penetrating damage to opposing characters that have damaged a friendly character since your last turn.

See Improved Movement for more information

Can I give Ghost Rider a free action to use Living Hellfire Chain in the same turn he gets a second token?
Yes. All this power cares about is whether or not Ghost Rider has two tokens; it doesn't really matter when he got the second action token.

Can I then give him a free action to use Living Hellfire Chain again on the next turn, before he clears
Yes, again. As before, all this power looks for is the tokens. Not when he got them.