No but the wabbajack is very funny I really want it :(
the wabbajack turns peope into chikens and does other magical things
No. For the magic powers, there are only sticks.
Aela is marked as an essential character (Meaning she can't die). The Wabbajack can't transform essential characters, sadly. She's stuck at level 15 until Bethesda patch the game.
No. Dragonborn needs Skyrim to run
Right by the pet shop in Whiterun.
Sorry, but Midas Magic is a mod, and mods are only available for PC users.
Yes, there are no classes. Any character can learn spells and start developing magic skills.
Kajiit NOT REDGUARD
I seriously dout it.
You can't mod the Xbox version, only the PC.
In Solitude, look for a man called Dervenin, who wanders around outside the Bard's College. He will initiate the quest 'The Mind of a Madman', and give you the hip bone of Pelagius III 'the mad'. You need to the enter the Blue Palace and find the Pelagius Wing (you can't enter without the bone), you'll be taken to where Sheogorath, daedric prince of madness is having a tea party. If you agree to help him with what he asks, you'll get the Wabbajack and keep it as your reward at the end.
Check out the System Requirements for Skyrim on the UESP Wiki.