This needs a buff. A serious buff.
Perhaps cost 3 unupped 2 upped?
Maybe it'd be better if the target creature was 'forbidden' to attack you as long as it's under your Hypnosis spell, meaning that you can extend the duration from 1-turn of the creature being controlled to multiple turns (maybe 2, possibly 3 if others want it to be that good).
Reminds me of Conversion | Corruption (or BS's equivalent in the Crucible), but as a spell that doesn't consume all of your quanta and only lasts for a (potentially few) turns.