do I need to have a common 3.3V line connection for the I2C communication to function properly between dev boards
I2C is open Drain so source/load can be a different 3.3V  but good common ground.

CMRR is rated at 60dB @1kHz 1Vpp so in noisy environments ( motors, relays solenoids) a Ferrite CM choke may be needed. (Torroid or sleeve or clamshell or other)  Pullup termination R depends on cable capacitance and data rate.

Termination Versus Capacitance

Cp and Rp effectively limit the maximum data rate which can be transferred over SDA and SCL. A high Cp can be compensated with a low Rp and vice versa.



The following three pictures show the same part of an I2C transfer. Compared to the first one, the second picture shows the signals with a modified Rp of 2 kΩ, the third one with a lower Cp of 150 pF.

Note: Long wires increase Cp dramatically. I2C connections should always be as short as possible and connected by a suitable wiring pattern (c.f. I2C specification, section 17.3).

SDA (above) and SCL (below) with Rp = 10 kΩ and Cp = 300 pF. The SCL clock runs with 100 kHz (nominal).



The same transfer as above, but this time with a reduced termination resistance (Rp = 2 kΩ, Cp = 300 pF)

The same transfer as above, but this time with a reduced wire capacitance (Rp = 10 kΩ, Cp = 150 pF)



Note that the I2C standard limits Cp to the maximum value of 400 pF. However, with an appropriate termination resistance, it is often possible (although not recommended) to operate I2C buses with higher capacitance.

Credit Ref: http://www.i2c-bus.org

Twisted pair varies with wire type and 12pF/ft or 40pF/m is common. Shielded pair can be up to 100pF/m. You can measure rise time with R and compute cable capacitance.