You're also counting on Malik returning to the Kings for likely less than he could get on the open market AFTER they trade away his best friend in the NBA and the biggest reason he signed with the Kings in the first place. So what happens if you lose both Monk and Fox? Ingram is a good player but not as good as De'Aaron and certainly not better than Fox AND Monk. Also, while he's pretty good from outside, he does a LOT of his work inside the arc which collapses spacing somewhat.
https://www.statmuse.com/nba/ask?q=brandon+ingram+shot+chart+2023-2024
Ingram is okay on defense, but he's not really the high level defender we'd all like to see between Sabonis and Murray. If anything it leaves the Kings with too much frontcourt scoring and not enough spacing or guard scoring. So we just end up with a different roster that's still unbalanced.
I don't think those middle of the first round draft picks (assuming the Pelicans are even willing to offer 3 or 4 FRPs in this proposed deal) are going to be enough to make this a better roster. Definitely not in the short term, and probably not in the long term either.
Honestly, I'd rather try and pry Jonathan Isaac from the Magic than think about trading Fox for Ingram.