Ick Swamp's difficulty has increased substantially, and the place has always been a death trap for Monks. I'd say preparations should definitely be allowed on this level; it's pretty much on the same level as the Slime Pits in terms of difficulty now that it has two bosses and a much more deadly assortment of plants. For my part, I'm not even attempting this quest line for now. Maybe if the devs got around to buffing the Martyr Wraps I could be bothered, but this level of difficulty for an item I really don't want in the first place?
I'd say your best approach is probably to go for Jehora Jeheyu with Chaos Avatar. This will wipe out all your corrosion and weakening plus it will bring down the boss's resists, which is one of his biggest advantages. Still not very reassuring at all.