Can I create a hotspot on ios7.6 from my iphone 5 with sprint service so my iPod touch can have data in my car????

I want to link my iPod touch to my iphone 5 through a hot spot possibly? U have sprint and the purpose would be so I have data in my touch in my car etc. also my phone is only 8g, my touch is 64 but there synced if I start to use my touch gb past 8 , what does that do to my phone since there synced and the phone is only 8gb