How sound is this supplication: "In the name of Allah, and by Allah, and from Allah, and to Allah... Glory be to your Lord, the Lord of Might, above what they describe. And peace be upon the Messengers. And praise be to Allah, Lord of the worlds"?

Supplication (Du'a) is an act of worship based on divine command and adherence [to revelation], not on innovation. Directing supplication to other than Allah or legislating supplications that Allah has not authorized contradicts Islam. The supplication mentioned in the question is an invented and innovative supplication that is impermissible to act upon due to the presence of religious prohibitions within it, such as impermissible intercession (tawassul), ill-manners towards Allah, transgression in supplication, inclusion of unseen matters for which there is no evidence, and linguistic errors. Protection is achieved through prescribed remembrances (adhkar) such as: "I seek refuge in the perfect words of Allah from every devil and every poisonous pest, and from every evil eye."