Either option is fine

1. What is the meaning of either is fine?
2. Is it correct to say either way?
3. Does either mean only two options?

What is the meaning of either is fine?

Meaning to choose only one of the two.

Is it correct to say either way?

You use either way in order to introduce a statement that is true in each of the two possible or alternative cases that you have just mentioned. The sea may rise or the land may fall; either way the sand dunes will be gone in a short time.

Does either mean only two options?

Either is used where one is required and there are multiple options, usually two. It can be used for more than two but it is most often is used for only 2 options.