ONT to desktop and separate router?

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Couldn't find any prior threads specific to this question (although some were very close!).

My desktop is in the basement, along with my ONT and 3200M. The house is Ethernet wired and I have a UBIQUITI router on my main floor, currently plugged into the 3200 in the basement. Things are working fine but I want to confirm if I could just skip the 3200 and basically go:

ONT -> DESKTOP + ROUTER

Or does the ONT not act as a router/nat? In the above scenario, if it worked, I assume I'd pull 2 public IP's? One on desktop, one on router?

I should add that I don't have TV - just internet.

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