The hyperreal numbers can be constructed as $\mathbb{R}^{\mathbb{N}}/U$ given some ultra filter and this allows first-order statements to be transferred over to $\mathbb{R}^*$. Can this be done again to get $\mathbb{R}^{**}\equiv (\mathbb{R}^*)^\mathbb{N}/U$ to get the hyper hyper reals and expect this new thing to still be an ordered field? Is anything lost in this expansion, does it even work to begin with, can this be repeated indefinitely, will the cardinal it’s of the resulting set ever exceed $2^{\aleph_0}$, is the thing still complete, and can it be used for anything?
Edit: After posting, I though of $(\mathbb{R}^*)^{\mathbb{N}^*}/U$ where $\mathbb{N}^*$ is the set of hyper natural numbers. Does this do anything to the repeated construction mentioned above or anything else interesting like that?
Nicholas has given a good answer with some nice references (+1), but let me make a more general point that the object you're looking at is just another ultrapower of $\mathbb{R}$! Let me first fix some notation to make sure we're all on the same page. Given a set $I$, an ultrafilter $U$ on $I$, and a first-order structure $M$, we say two functions $f,g:I\to M$ are "$U$-equivalent" if $\{i\in I:f(i)=g(i)\}\in U$. We write the $U$-equivalence class of $f:I\to M$ as $[f]_U$. Thus the elements of $M^I/U$ are precisely the $U$-equivalence classes.
Okay, now here's a useful construction. Let $U,V$ be ultrafilters on sets $I,J$ respectively; we define the "tensor product" $U\otimes V$ as the set of all subsets $X\subseteq I\times J$ such that $\{i\in I:\{j\in J:(i,j)\in X\}\in V\}\in U$. I'll leave it to you to check that $U\otimes V$ is an ultrafilter on $I\times J$.
Now we have the following: suppose $M$ is any first-order structure in a first-order language $L$. Then $M^{I\times J}/U\otimes V$ is in fact naturally isomorphic to $(M^I/U)^J/V$! Why? Essentially via currying. Given a map $f:I\times J\to M$ and an element $j\in J$, let $f_j:I\to M$ be the map given by $f_j(i)=f(i,j)$, and let $\tilde{f}:J\to M^I/U$ be the map given by $\tilde{f}(j)=[f_j]_U$. Now define $\alpha:M^{I\times J}/U\otimes V\to(M^I/U)^J/V$ by taking $\alpha([f]_{U\otimes V})=[\tilde{f}]_V$. It's a good (albeit slightly tedious exercise) to show that this gives a well-defined isomorphism of $L$-structures.
So, in the case when $M=(\mathbb{R},+,\cdot)$ and $I=J=\mathbb{N}$, you get that the "hyper-hyper-real field" $(\mathbb{R}^{\mathbb{N}}/U)^\mathbb{N}/V$ is just isomorphic to $\mathbb{R}^{\mathbb{N}\times\mathbb{N}}/U\otimes V$! In particular, since $\mathbb{N}\times\mathbb{N}$ is the same cardinality as $\mathbb{N}$, this means that there is an ultrafilter $W$ on $\mathbb{N}$ such that $(\mathbb{R}^{\mathbb{N}}/U)^\mathbb{N}/V$ is isomorphic to $\mathbb{R}^\mathbb{N}/W$, so any "hyper-hyper-real field" is actually just a "hyper-real field" to begin with.
In particular, you ask if a hyper-hyper-real field can be complete; the answer is no, for the exact same reason that a hyper-real field can never be complete.