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Welcome to the forum.
Yes, you can Export/Share, and then Import the resultant files into a "master Project."
The choice wil depend on what your Source Footage, and your Projects' Presets are.
Yes, you can do that.
Say, you have project 1 (P1) and project (2). I am assuming you want to move the data of P2 to P1.
You can easily do that. Export the timeline of P2 in a desired preset. Try to match that with the native project preset.
The output that you have now can be easily imported in P1 and placed in the timeline where you want to. Then, the output of P1 will have the data of both P1 and P2.
And, of course, the Share options you use depend on whether you're working in standard or hi-def video.