Yes, that long chill is ideal for this dough for the cookies to hold their shape while baking.

Yep, that will work just fine. Let the dough sit out for about 10 minutes before rolling, it will be quite firm.

Yes. Make sure the dough is covered or it wil dry out. Also, it will soften on the outside as you shape it with the warmth of your hands, so the extra time won’t hurt it.

The cookies won’t hold their shape. If you want to bake right away, I recommend making my M&M Cookie recipe using the Valentine M&M’s. They are different in the end flavor and texture, but they are no-chill. https://www.kleinworthco.com/mm-cookie-recipe/

You can – but M&M’s tend to sweat and discolor when they thaw – so they might not be as pretty. The dough also dries out a little in the freezing process so they won’t be AS amazing as they are when fresh.