its kinda op.
i think "dodge" stats are not really good for the game.
but about the item itself:
i think the mixture of armor, crit and ms is kinda weird, makes this item specifically made for adcs and would make absolutely every adc build it as it not only counters enemy adcs, but also assassins.
and as said above, an adc will be attacking way more than 3 times per 5 seconds, without a cooldown it takes its brokeness to another level.
not only that, but its also really cheap considering the passive and active.
so to resume:
1- its obviously intended for adcs, who just got all the items they needed.
2- the only way to kinda balance it would be making the passive "every 3rd basic attack you make, you dodge the next basic attack, within 1 second, from an opponent"
3- doesn't really need the active and 3 seconds is kinda a lot.
So, make it a generalist defense item (no ad, crit or ap) with that changed passive, add a cooldown and i could see it being kinda usable, even for junglers.