(adsbygoogle = window.adsbygoogle || []).push({}); I am on 3.55 slim 250 gb right now.

Can I
Install GeoHot Jailbreak
Install the latest multiMAN
Update to OFW 3.55
Update to Waninkoko CFW

Is that safe or should I just update Waninkoko without geohots?

Also, do I need to go on recovery mode to install Waninkokos?

Don't update to Waninkoko is my advice, it uses unsafe LV2 access which has a worryingly high chance of bricking your PS3.

Say I'm willing to take that risk,
Would I need to update to Waninkoko using recovery mode?

I dnt think so... Id suggest using Geo's CFW

No, you can update it via the XMB, but you got the right idea. Don't use multiman though, use that other one. I forget the name of it, but it's signed for Waninkoko's CFW.