If I uninstall and reinstall will I lose all my custmized playlists and name of recordings?

All your music and playlists are stored in the iTunes library, which is in the My Music folder, and it is not modified when you uninstall iTunes, so you will not lose anything and you will keep the playlists and names of recordings. However, I recommend you to make a copy of the iTunes library onto another folder.

It depends. There is an option in iTunes preferences that allows you to choose if you want to copy your music to the iTunes library or keep it in the other folder. Anyway, you will not get the songs deleted after uninstalling the app.

Make a backup of your iTunes library in case anything fails.

Correct

You are welcome