This page says that you may be eligible if:
"your current work permit expires in 4 months or less"
https://www.canada.ca/en/immigratio.../extend-permit/bridging-open-work-permit.html
1) I believe nothing can stop you from applying, but the officer may refuse your application since you're not in the 4 month timeframe. I personally don't think they will, but it's in their right to do so. Also, considering that applications are currently taking about 90 days to be processed, when a officer opens your file you might be well within the 4 month timeframe (unless they consider the submission date instead of the date it's processed...).
2) It's called a Bridging OPEN Work Permit because it's an OPEN work permit. You're allowed to work for any employer as long as you're qualified to do so.
BTW, since you're a PNP candidate, you have to keep this in mind:
"If you applied through the Provincial Nominee Program and have employment restrictions as conditions of your nomination, you can’t get a bridging open work permit."