5e Monk Quivering Palm Combo Question

I have three questions after reading the player's handbook (page 80). Can you use quivering palm effectively three times in one round, possibly even four or five times if you have the ki points to spend. My thought: Make an attack, make an extra attack, then expend 13 ki point for using flurry of blows and 4 consecutive quivering palms. And lets say someone is foolish enough to provoke opportunity. You then make a reaction and spend 3 more points to cast quivering palm again. That is a total of 5 quivering palms in one round. I ask because the ability says it activates on a hit. Is this possible?

Second Question: If this is possible then does this break the game in terms of boss fights. I understand that most high level monsters have the ability to choose to succeed on saving throws 3 times a day but even so. You will still be dealing a total of 40d10 damage in one round plus your initial damage from your unarmed attack which should be 1d10 themselves.

Third Question: Is quivering palm considered a magical attack?