Need help replacing bottom bracket on 1996 Litespeed Arenberg

Hello all,

So I am preparing my beloved bike for the spring and need to replace the bottom bracket.

It is a 57cm litespeed Arenberg from 2000. Campagnolo record 8 speed everywhere from 1996.

If I were to buy a phil wood replacement what would the spec be?
Are there cheaper options?
Which tools will I need?

Many thanks and greetings from Canada,
Zachary