
I'd go ahead and get the other one spayed, for starters. Unfortunately however, once bitches take against each other, all too often there is no way back - I too go with the fight to breed (males) but fight to survive (breath?) - bitches. If this is escalating now, and I'd suggest the younger one is sensing the ageing in the older one, and you think there could be serious injury, you can only keep them apart when you are not there, feed separated, watch with toys or any other trigger, OR sadly think about rehoming the younger one, in a home where she's either the only dog, or with a male who will back off.
I'd not want to live with a potentially explosive situation like this. And when I had two males who started all this - well it was the younger one - challenging his uncle for the position of top dog, having tried all I knew to get him to settle down again, eventually I had to find him a home - a lovely lady with 2 bitches of the same breed. He went off happily and when we saw him some months later, he greeted us happily but turned back to what he had been doing! Result! Peace back in our small pack.