I would be very careful about the whole situation for a number of reasons.
First, companies don't like to be held hostage and that is what you are proposing. Even if they meet your demands, there will be backlash. You could experience resent from co-workers making for an even more difficult workplace. If word gets out that you made these demands, others may attempt the same thing because the precedence has been set. That is a major factor for the company to deny, regardless of you contributions.
Second, the economy is such that you could be replaced, possibly at a lower rate.
Third, quitting a job because of salary rarely looks good to the next employer (will you walk out on them too if you aren't compensated?). If the situation is as poor as you describe, you would be better off to simply resign citing the lack of a professional environment and leave salary out of the discussion entirely.
The best approach would be to secure other employment, based on work environment, schedule flexibility (for school), education reimbursement, and salary. Then you can resign and simply state you have secured and accepted a position with another company. Do not give specifics about the new position or even the company you are going too. And don't play one company against another, then you will have potentially burned two bridges. I've seen all these scenarios play out. And I have even seen people come crawling back from what was perceived to be a "better" position only to find out it wasn't.
By all means, if the work environment sucks and/or there are upper management issues, get out, but do it in such a way that your aren't hurting yourself in the process.
Chris
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1999 Formula 6spd (The driver)
1997 2500 Ext. Cab Dodge 4x4 CTD 5spd (The Earth Mover)
1970 Nova 5spd (The toy)
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