My oldest is two and a half, so bear that in mind with my answer.
The first step is to remove as much of his ability to misbehave as possible. Lock the cabinets. Strap the chairs to the table. Don't leave him alone with his sister, and always make sure you can intercept an attack. This will be difficult!
Next, make sure he has something else to do that he enjoys. The primary reason for my toddler misbehaves is either: 1. We've been inside all weekend and she's stir crazy. Going outside to run around solves this state of mind. 2. She's not getting enough attention from us (particularly true now that she has a baby sister), and playing with her, reading her books, or (to kill two birds with one stone) running around outside with her solves this state of mind.
You seem to be putting a lot of emphasis on punishment. There is certainly a place for punishment, but it can't be the whole solution. Young kids typically misbehave because something is wrong (from their perspective), and they don't know how else to express themselves. If you can find out why he's acting out (from his perspective), you can help him solve whatever problem it is before it escalates into more bad behavior. A big benefit of this is that you'll both be solving a problem together instead of fighting each other about the effect (to put it another way, you'll be treating the disease instead of the symptoms).
For instance, my toddler is ravenous in the morning, and always out of sorts until she has eaten. So, the first thing we do when she wakes up is breakfast. Sometimes, this is easy. Sometimes, she's so hungry that getting up into her high chair is an epic quest. She'll cry, scream, and hit. During this time, it's my job to make sure: she doesn't hurt herself or anyone else, help her identify and control her feelings, and, ultimately, get up into her chair so she can eat.
With your son (based on the little information from one paragraph of text), it sounds like he's acting very similar to how my daughter acted just after the baby was born. He likely feels he isn't getting enough attention, and his sister is the source of that "problem". If that is the case, the "punishments" you give him are probably what he wants: he has your full attention, you are--in that moment--completely invested in him, and he is in complete control.
I'd suggest a two part overarching strategy: as mentioned above, you'll need to give him more focused positive attention. Bad attention is better than no attention, but if you can teach him to crave good attention, he'll want that over bad attention. As part of this, teach him to ask you for your attention. I've been trying to teach my daughter to ask, "Can you play with me?"
Also, change your punishment strategy. If he's craving the punishments, you'll need to punish less and differently. Hopefully, blocking his methods of misbehaving will help you punish less. As for differently... well, here's what I do, it's somewhat effective. When my daughter goes into full tantrum mode, I lock us in her room and let her wear herself out. I'm present, but not involved. Then, after she finishes her tantrum, I have a calm conversation about it with her. One of the important things is for you to maintain an outward appearance of calm, even while your blood pressure spikes to dangerous levels; the more excited you get, the more excited he'll get. My daughter's essentially "punished" by herself (having a tantrum isn't pleasant), and I'm there to help her understand her emotions when she's calm enough for that to be useful.