I like this idea. However, it's only strong late game, when the respawn times are ridiculous.
So, even with this buff, it still won't be used competitively. A summoner spell needs to be useful all the time, and the 3 uses seriously limit the spell to totally situational. The thing is, you have to die. Why would you, say, take this over flash? You wouldn't.
So, to make it useful all the time you have to add a passive ability. Of course, the downside to this passive ability is that if you use the active, you lose the passive. The more you use the active, the longer the respawn times are if you die again.
3 uses left - 9 seconds off respawn
2 uses left - 6 seconds off respawn
1 use left - 3 seconds off respawn
OR
you could do the opposite, make the passive stronger as you use the active.
3 uses left - 3 seconds off respawn
2 uses left - 6 seconds off respawn
1 use left - 9 seconds off respawn
0 use left - 10 seconds off respawn
Even with this ridiculous buff, I STILL wouldn't take it over flash. So balanced.