Yes and yes.Are the root letters of יְחַוֶּה the following?
ח ו ה
If so, is it related to חַיִּים (life; lifetime)?
The answer is they are definitely related. The question of how exactly is a tricky question.Probably yes but I am not sure that in this context.: י & ו are interchangeable.
The first woman חוה was called so because she was
אם כל חי