I have 2 red bumps on the bottom of my foot in the arch they are painful when I press on them or when I have been walking for a prolonged periods.

Plantar warts. Possible plantar warts, would have to know more details. I f they hurt and have been there for more then a few days I would seek medical evaluation.
Podiatry. This can't be diagnosed with the information that is available. A history, physical examination & other studies may be needed to determine cause/causes.
Foot bumps. Schedule an appointment with a Podiatrist for exam.