In general, you can use gem install rails -v 8.0.0.beta1. or gem install rails --prerelease
You can use rbenv to specify which ruby version you want to use for your project, or in general.
In fact I did this as you described but now my rails binary that’s in the PATH set by rbenv is Rails v8
How do I get back to Rails 7 for other projects?
Or am I required to … gem install rails -v <version i need right now> and flip-flop around forcing gems to whatever version I need at the time?
You can call a specific version of rails by adding the version string after it in the command line, like this: bundle exec rails _7.1.2_ new whatever... (obviously, use a version you have installed, see gem list rails for your local versions. The underscores are actually important in this case, not placeholders for this answer.
Actually, I think I may have misspoken here: it’s not bundler that does this, and unless you have a Gemfile in the directory where you are running Rails, this may not work, either. Try it without the bundle exec prefix. It’s just a feature of the rails executable itself.