Well, there are a few problems with that kind of treatment. And here's why:
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To implement that mechanic would give Graves the same inherent weakness as Jhin in the lane-phase; a set amount of AAs, followed by a painfully long reload time. Which drastically hinders their ability to do extended trades, which by the way, is a major reason why Graves is rarely taken to the bot-lane these days, and also why Jhin is rather weak right now.
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Graves being in the jungle isn't necessarily a "bad" thing. It opens up more pick diversity for the role, and I feel like both him and Kindred (and the occasional Quinn) are solid introductions to the Jungle role. They provide another style of play, one which Riot isn't wrong in implementing.
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This last set of nerfs have actually impacted him quite heavily; he is not the same powerhouse he once was. As a Graves player, I can tell you that the nerfs have noticeably reduced the power in his kit, and in a way, he feels fairly clunky to play as.
If they give him 3 shots with a longer reload, it wouldn't be the WORST thing to happen to him, but it would certainly shove his viability in the bot-lane aside even further, and make his team-fight ability incredibly weak.
If the jungle-knockback is such an issue, they could simply make a change where they remove it from Large Monsters. That would reduce the healthiness he has after his first clear.