I will try answer your question to the best of my ability

1. The creators of the ICO and ETH contract will receive the ETH and is free to be used for development
2. The price of the coin will not change till after the ICO is over, when it starts getting traded the last traded price what someone is willing to pay for it at that moment
3. Yes, a contract can be written to release any % of coins at any interval. As there is a lower supply, price fluctuation will be greater and if there is demand, the higher the price should be