The family of cheerleader at Newark Arts High School plans to sue the city’s board of education and others for $150 million after the student was critically hurt by a hit-and-run driver when she stepped off a school bus last month. Chiara Jones, 18, was hit about 10:15 p.m. Feb. 4 on Martin Luther King Boulevard North near the intersection with Mercer Street in Newark, according to a notice of claim filed by the family’s attorney, James S. Lynch of Hasbrouck Heights. “The school bus driver did not employ any lights, stop sign, or other safety mechanisms to protect its exiting passengers,” Lync…