yes yes & yes, you can make a removal tool. I made one from a piece of pvc that was the same size and notched it to match the black ring. if you internet it you'll find repair guides. Fuel Pump Replacement - Step 1
What I did was remove the fuse for the fuel pump, then run the engine till it stops, to get as much fuel out of the system as possible.
I don't if there is a fix for the fuel sending level, but you can fix/ upgrade the fuel pump cylinder its self with a new fuel pump.