The north London rivals clashed in the last four in January, when Tottenham threw away a two-goal lead in the first leg as they were beaten 5-3 on aggregate.
But Chimbonda believes they have learned from their mistakes and is confident about their chances of lifting the trophy.
He said: "Everybody wants to win something and the League Cup is a great opportunity for us. We want to go one better than we did last year.
"We know what we have to do if we draw Arsenal again. It hurt us a lot to lose to them last season. We were winning 2-0 at home in the first leg and they got it back to 2-2 and we ended up losing the second leg.
"But we have learned from what happened and it will be different this time. We can win the trophy this season. We can achieve anything when we perform like we did against Manchester City."