A bit of research would give you most of these answers, but for starters, you need at least one of each sex, but having a lot more females than males works better. Females who are mature enough to breed will develop a 'saddle' on their back, a light coloured patch, behind their heads. It's easy to see, if it's there, and it is their ovaries, with immature eggs inside.
Other differences between male and female are in size, colour and shape. Males are smaller when mature, and much more slender, having a fairly straight line under the belly, and usually less dense colour. Females are larger, usually brighter or denser in colour, and have a rounder, deeper underline.
Males will pester females so it's best to have several females to each male. One male & four to six or so females would be good. Give them plenty of places to hide, because when they moult, the new shell is very soft for a day or so and that makes them vulnerable. Babies need to hide because theyre so tiny, and also because they moult often. Lots of plants, rocks and wood make for hiding places, and feeding places, as they will feed off any algae on any surface, hard or soft. Sponge filters are good for shrimp because they won't hurt baby ones and the bacteria that grow on them are a good food source for all shrimps.
Breeding is usually dead easy. Put shrimp of both sexes in a tank and wait. Females that have a saddle will moult, then send out pheromones that attract males. They'll breed, which you likely won't see them doing as it happens so fast and about 4 weeks later you should have babies. Once the eggs have grown a bit you can see them through the side of the body of the female, and later, they'll be hanging onto her swimmerets underneath her belly. This is called being berried.
Moulting happens periodically as the shrimp grow. As they grow older they moult less often, while babies may moult every few days at first. Leave moulted shells in the tank, as they are eaten to reclaim the calcium.
Cherry shrimp prefer hard, alkaline water, and cooler temperatures than many fish do. 72 - 74 F, pH between 7 - 8.