- You will always get +2 (no less, no more) rep for every approved suggested edit until you have 2000 rep yourself or have earned 1000 rep for suggested edits.
- No, there isn't a mechanism to give you more reputation for a significant helpful change. I don't think there should be a mechanism of this sort because:
- people will probably abuse the feature
- people will start making more minor edits
- people will misuse the feature to, for example, give more rep to someone they know or like
There are probably more disadvantages (and advantages), but I think the above is enough reason not to have this 'feature'.