You should power 1 555 from the other 555 output.
Its possible, i saw it somewhere, if that is what you mean.
That will work, with two separate 555s, but the original poster might want to use the 556 for the real thing.
Apply the 10 ms to the 40 kHz's RST pin?
Yes. That is the best way to enable/disable an astable 555 timer circuit.
I'm trying to design a burst generator with two 555 timers. The first timer will generate a 40khz square wave, this is working fine. I was planning to use a second 555 to control the control voltage of the first 555. So i can have a perdiod (say 10ms) with 40khz square wave as an output. The other half of the period the signal should be zero. For some reason it looks like my CV is oscillating. The only solution i could come up with was a 1 ohm resistor between the control voltage and ground. This doesn't looks good to me. I cant figure out why the CV is oscillating. Any suggestions?
That will not work.
Altering the control voltage pin affects the duty cycle and frequency of the astable. It doesn't just enable/disable it. It's good if you want the output to switch, or sweep between two frequencies. I made a nice sounding alarm with two 555 timers for a school project, many years ago.
Use the reset pin to enable/disable the astable, as mentioned above.
Note that, unless you're using the CMOS 555, your circuit will not produce a 50% 40kHz duty cycle square wave, as shown by the simulator. In reality, it will have a slightly lower frequency and higher duty cycle, as the 555 time model included with LTSpice doesn't accurately simulate the output stage. It assumes it can swing all the way to both power supplies, when in reality, it falls short of the positive supply by around 1.2V. If you're using the LM/NE555 then a low value pull-up to the discharge pin, will give better results than connecting the timing resistor to the output pin.
Another thing is there's no point in using precision resistor values such as 7412 and 1786, because the tolerance of the capacitors will be 5% or worse.
Here's a revised schematic, with practical component values and drawn in an easy to read manner. You'll need to add a 1µF capacitor across the power rails, in the real circuit, to provide supply decoupling. 100nF is not enough for the 555 timer.
