Although it is not labeled "Part 2", this is a direct follow up to the previous episode. Though from the dialogue, a few months had passed since the previous episode.
This episode features Alistair Smythe not only recreates the Black Widow, but two more Spider-Slayers are introduced: The Tarantula and The Scorpion (not to be confused with Mac Gargan's alter ego from the 2nd episode). All three Spider-Slayers are able to join together as a massive engine of destruction.
This episode is actually the 4th episode of the series. However, it was the third episode aired on FOX.
This episode was adapted to "Spider-Man Adventures" #4, which is a series of comic books based on the animated series.