Probably not much of a precedent to set.
This guy is literally a once in a century level of turd.
I don’t think I can remember a Congressman or a Congressional candidate with even a potential out of country warrant for his arrest.
But let’s examine the Constitution.
https://constitution.congress.gov/browse/essay/artI-S6-C1-2/ALDE_00013354/#:~:text=They%20shall%20in%20all%20Cases,questioned%20in%20any%20other%20Place.
The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States. They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.
The Supreme Court, as the linked article points out, has defined the privileged from arrest clause very narrowly. It applies ONLY to arrests and imprisonments arising from CIVIL cases, something that is almost non-existent these days. Numerous Congressmen have been arrested and detained criminally on domestic charges. A foreign criminal charge should not be treated differently.
Most importantly, we have an extradition treaty with Brazil, obligating us to hand over criminal subjects.
A Federal Court is extremely unlikely to refuse an extradition request solely on the grounds that the individual is a sitting Member of Congress.
Only the current President, with his qualified immunity as Head of State, would have any protection against arrest.
I believe if Brazil requests extradition of George Santos, a Federal Court will deliver him up to Brazil in line with the extradition treaty.