In this paper, we present a new framework for the global well-posedness and large-time behavior of a two-phase flow system, which consists of the pressureless Euler equations and incompressible Navier-Stokes equations coupled through the drag force. To overcome the difficulties arising from the absence of the pressure term in the Euler equations, we establish the time decay estimates of the high-order derivative of the velocity to obtain uniform estimates of the fluid density. The upper bound decay rates are obtained by designing a new functional and the lower bound decay rates are achieved by selecting specific initial data. Moreover, the upper bound decay rates are the same order as the lower one. Therefore, the time decay rates are optimal. When the fluid density in the pressureless Euler flow vanishes, the system is reduced into an incompressible Navier-Stokes flow. In this case, our works coincide with the classical results by Schonbek [ J. Amer. Math. Soc. 4 (1991)], which can be regarded as a generalization from a single fluid model to the two-phase fluid one.