Validation rule/picklist value/record type help!

Hello all, 

I need to replace the values on a picklist with new values for only ONE Record Type. However, the picklist is associated with two different record types.  

I added the new values to the  solo required record type, however, when I do replace all, it replaces all values even for the Record Type that doesn't have those value for the Record Type. Do I need to write a validation rule that says If this record type, then choose these picklist values? What does that validation rule look like? This one is a doozy and any help is appreciated. 

Thanks!