Paperplane controlled drone

Hi,
As a student project I would like to create my own paperplane arduino-controlled drone like this one from PowerUp3.0 but with two motors at the end for power & air control.
I never had this in hand so I don't really know how it works.
I'm planning to use either an Arduino Nano (which I already have) or order an Airboard which just released today, already containing a bluetooth transmitor and a battery.
The challenge of this project is minuaturisation & power.
Would I need two batteries, one for the Arduino, one for the motors ?
How feasible would be this project ?

Would I need two batteries, one for the Arduino, one for the motors ?

That would probably depend on your final design. You might get a RTF paper airplane first and study how it is built as a learning platform.