To enable redundancy for the EBGP peering between the two routers, you should configure loopback interface peering and routes for the peer loopback interface IP addresses to ensure that the BGP session can be established and maintained even if one of the physical interfaces goes down. Additionally, configuring MD5 peer authentication enhances the security of the BGP session, preventing unauthorized access and ensuring that the BGP peering remains secure. BGP multihop is not necessary for this scenario because the peers are directly connected, and configuring a cluster ID is used in BGP route reflectors, which is not relevant in this case.