Your Balfour Aralia (Polyscias scutellaria) will definitely branch out if the tall stem is pruned and yes, the cut stem can be propagated for a new plant. I use a rooting hormone powder for propagating stem cuttings and I've heard many say that cinnamon works well too but I've never heard of someone using Aloe gel. I might have to give it a try some time!
~ I'm an old gal who still loves playing in the dirt!
~ Playing in the dirt is my therapy ... and I'm in therapy a lot!