I'm not sure that is the solution to the yet unknown issue your plant is having, but if it has been a few yrs, I would believe that the plant would appreciate it.
That depends on how the plant is growing, whether or not it's possible to flush the soil occasionally, the type of soil. I'm a long standing member of the "if it ain't broke, don't fix it" club, but it can be hard sometimes to spot the initial stages of "broken."
Watering a hanging pot with holes can be tricky. A big saucer can be used temporarily until dripping stops, but if the drips hit leaves on the way down, then can splash and land outside of the saucer.