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The scholar's program in Math at UCLA has its advantages and disadvantages.
+Good to help get into grad school
-Might hurt your chances at getting a fellowship, depending on the school
+ Fortunately, numerous schools(such as UCSB) let grad students with masters be a teaching associate instead of a TA. This means you 1) get more money and 2) have more responsibilities as you teach the whole class yourself.
-Some employers don't consider it a "real" masters because it's mostly course based.
Overall, I would only take 2 honors courses at any one time and make sure I stay around 13-14 units. But that is me. I think you can still achieve what you want to if you spread it out a little.
Also, note that graduate level classes will require even more effort than those honors upper division classes. And you need to take a minimum of 8.
I would definitely do it though. Good luck.
With hard work and balanced schedules you should be able to do it.
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