This absolutely works, but combo triggers on the third hit, so it takes some management to get them to line up.
High Dex builds can still get 12 or more attacks a turn without too much trouble. It's pretty nice when it all comes together.
What's your favorite fast-attack psi-monk build? 16DEX? What secondary do you prioritize, WIL or STR?
Minimum AP cost is 4 so 12 attacks is your maximum. With tabi and Lightning Punches you can reach this with 14 Dexterity, assuming you're using leather gloves. If you're using metal you'll probably want to go to 16.
For a fast attacking build I would probably take Will over Strength. Psi-monk builds are usually pretty MAD, you'll often find yourself wanting at least 8 Dexterity for Lightning Punches, 7 Will for Force User, 6 Intelligence for Premeditation and Cheap Shots, and 6 Agility for Sprint. If you dump Constitution you might be able to reach 7 or 8 Strength, but I doubt that's worth it.