I would recommend sodium benzoate for presevertation. 0,5 grams of benzoate per 100gr of gum is sufficient as I have learned recently. Fomalin, mercuric chloride, thymol and formaldehyde are also used as preservatives.
There is no standard ratio of gum to water. The quality of gum varies. I have used the same gum arabic in 1+2, 1+3, 1+5 and 1+3,3. You have to find which one works best for your workflow. You might try preparing small batches of 1+2 and 1+3 see which one works better. Some people prefer working with thicker gum arabic solutions.