Will my EB-2 PERM and I-140 become invalid after getting an EB-5-based green card?

You can not have two green cards so you would need to withdraw the conditional residency.

A conditional lawful permanent resident is not eligible to adjust status in the United States (unless the status is terminated). So assuming your I-140 is approved and there is an available immigrant visa number, i.e., your priority date is current, you could complete the immigrant visa processing (not I-485) at the U.S. embassy or consulate in your home country. You will have to execute Form I-407 at the embassy to give up your two-year, conditional green card so you can receive your immigrant visa (and ten-year, permanent green card once you enter the United States).

The I-140 itself will not become invalid. As a general rule, an LPR cannot apply for adjustment of status. But there is a procedure under which this may be possible. An attorney can evaluate this option for you and guide you in the process.

No, they do not expire. If you removal of conditions application is denied, you can activate this if still employed or the employer is willing to rehire you in that job.