With this new release removing the need for the master port, how do VLANs now interact with the bridge? Do I create a new VLAN under the bridge now instead of old interface (was ether2)? Any adjustments needed to the switch chip settings?

switch chip is history.

Main setting will be the Bridge Port VLAN setting. For tagged ports u need Bridge VLAN setting.
Actually for most devices hw-offload does not work when VLAN is enabled on a Bridge.

For details plz refer to the manual (wiki).