Should Congress implement pay & benefit reduction changes on themselves similar to which they produce for the military?

Yes, but don't hold your breath.
Nor the reduction, limitation, elimination of lifetime pensions for serving just ONE term

Damn right. Will they? Not a snowball's chance in Hades!!!

I am a firm believer that Congress should not get pay increases as long as the military and civil service are not. Additionally, I believe that Congress should not get a full pay retirement after 8 years in office. They should get one years pay and out the door. If they manage to stay there for 20, then a retirement might be warranted.