How to make a project for compilation videos? I am trying to create a project that will automatically convert videos to a compilation. Although not literally, but kinda. 

I want to create project that will hold effects, motion data in specified duration, then import videos into them, is it possible to apply motion and effects to sequences?
Yes, in Premiere, you can create a master sequence consisting of nested sequences and apply motion and effects to those nested sequences within the master sequence.

And swap footage within those nested sequences as desired.