Is it possible to keep using my current apps and their data on a different iPod?
Simply create a backup, but sync all applications first to your PC else you have to do extra work. Syncing to iCloud is possible, but if you want to restore all your applications back on the new iPod it's much easier to make an iTunes backup as you can sync back all applications on the new iPod.

If you make the backup Encrypted, it will also save all your passwords etc, making setting up of the new device much easier. [Don't forget the encryption password!]

Restore the backup you make from the current iPod on your new iPod! 

Sync all apps back on and you're done - even the settings etc are now on your new iPod.