1 means the event is certain to occur.
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If a number has a probability of 1 it means it is certain to occur.
An event with a probability of 001 = 1 is a certainty. The event must happen.
No, it's not a probability since it's not set in terms of ratio of two values, such that the second value is greater than the first. For instance: 1 to 2 or 1 / 2. Also, probability is never negative.
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If you mean 1: head 2:tail 3:head the probability is 1/2 x 1/2 x 1/2 = 1/8. If you mean only that you want the heads and tails to alternate, that is, you mean the above or tail, head , tail, the probability is 1/8 + 1/8 = 1/4.