In the real history the Norse colonists were too few and came from a much too poor mother country. But, however improbable, it is not completely impossible to imagine an Amerinorse empire taking off and eventually meeting the meso-american confederation/city-states/empire (depending on when exactly they make contact).
However, not from Newfoundland. Newfoundland has no natural resources to speak of. It would be better to have the son of Erik the Red of somebody else lead an expedition to the south, find Manhattan, and establish a colony in a more favorable place. Then arrange for a decent number of Norsemen to come over, and make sure that they don't repeat the mistakes of Normandy and Russia and bring sufficiently many Norse women to ensure the survival of their language and culture. You may also want to arrange to bring over the most illuminated and mentally flexible Norsemen possible, so that they establish good relationships with the locals, and set up a thriving economy.
After 15 or 20 generations they may make contact with the Aztecs. (The Incas are way too far away, unless you make your American Normans develop navigation tech much faster than Europeans.) The whatever meso-american empire they meet was in the stone age. They hadn't even invented the wheel. The contact between the Amerinorse and the meso-americans would have probably led to the fall of the stone-age empire. Then Columubus arrives, then Cortes, but instead of a stone age empire he finds an Amerinorse empire which would repel his expedition with ease.