The male is making a nest because he wants to breed. But unless you have the whole setup for the babies ( who will get eaten in the main tank if you don't ) , then you should remove the male into his own 5 gallon tank ( with a heater and sponge filter ) .
Also, when the male tries to mate, he'll really chase and stress the females, fins often get bitten and even in a controlled and proper breeding tank, one or even both fish often end up very beaten up and require treatment to help them recover.
If you don't have the breeding tanks ,and tanks for the fry as they grow out ( you have to separate when bigger to stop fighting ) then it will be much kinder to take the male out into his own tank.
If your two girls get on with eachother and do not fight, then leave them as they are. If they do start to fight when you remove the male, then add 2 more girls. This will help them sort out an order and the fighting should decrease and settle.