It is said that whips, in real life, can break bones when used skillfully. I don't know if it's true. What's true and obvious is that whips are totally useless against enemies with armour (or at least with plate armour), that's probably why they weren't used as weapons of war. But this is obviously one of those aspects of a game where realism is harmful... wielding a whip is cool.
I agree with most of your proposal but I think whips should keep their damage... as is being said in other threads, currently whips are rather underused because it's just not worth it most of the time. So they definitely don't need nerfing.
Maybe if other suggestions are heeded and new, better whips are added to the game, then it could make sense to propose some nerfing, but not now.