Definitely stop him now. Be very careful with picking him up and carrying him around. You don't want to be THAT BIG. You just want to show him that you will not be dominated. For the most part, it comes with the territory of roosters, especially when their hormones start kicking in. The 2 step is primarily a mating dance, but young roos will dance at each other, more of comparing notes and proving they are better than the others.
The simplest method of dealing with it is to follow him around the coop and make him move. Anytime you are around, make a simple point out of walking towards him. He will get the picture. Otherwise, let him be a rooster with the ladies. You want him to know you are the boss, without teasing or coming across like a butt hole. Only escalate to break up actual fights. The dominate roo will do that when the hens get into it, so follow their pattern. If you let it continue, it may turn into flogging down the road. Be someone he knows not to challenge, but let him do his antics like he is supposed to, just not to you.
Ken