So this is basically how it works (I am only using unupgraded Whip in my examples):
When the weapon is played, you start off dealing 3 damage. If you were to play it again, you would deal 6 damage. A third play would deal 9 damage. There is no ceiling.
If you were to play six Mindgates (the maximum you can have without use of moar Mindgates) you could theoretically have a total of 36 of these for a total of 108 damage. (assuming no flying weapon + reverse time combos come into play).
If you were to play this card, then animate it (a total of 5 random quanta), and then fractal it, and play all of your copies the next turn after discarding one (assuming you are playing mono-aether and will not have any quanta left after fractalling the Whip), you would be dealing a total of 23 damage with your weapon and 1 damage with your flying Whip thing.
This is crack for mono-Aether decks and against Mindgate decks. If you wanted to make it ridiculous, double the cost, but make it give you one
per successful attack. This might require a new picture and changing the element to Aether, though.