For the last three days my Rico has been awake for the entire day, takes a little nap in the early evening and gets up about two hours later with his cage mate and is wide awake all night from what I see. Why is he doing this and can it have a negative affect on him? Can I help him regulate his sleep somehow?

I would start by making sure is was dark at night and light in the day time, add an extra light in the room during daytime if its not very light.
If your gliders are new, it could be them getting used to the new place.

when we started with gliders, we put them in my bedroom during daytime, very dark as I would sleep for night work, they would be away from dogs. but I found them awake and running around cage on wheel at 3pm!!