Lets say I want to color grade my whole Final Cut project, should I grade each RAW clip individually then edit in FCP? If you do grade each RAW file wouldn't take take too long since I only use a portion of the raw clip? or should I import that whole, edited, FCP project to Grade in after effects? How do you color grade each individual clip when after effects recognizes your edit as a single clip?
You can try the Pro Import stuff to retain separate clips.
Traditionally, color grading is the last step in a project before final delivery.
The reasons: any other way of doing it results in much unnecessary AE render time and excessive drive space to store extraneous footage.
It IS possible to do it the way you want.
Just make sure that you have 1) the time and 2) the storage to indulge your workflow preferences.