The idea seems a bit tenuous to me. But we are talking about a level 10 monk. And as several people have pointed out, its not especially powerful compared to what else is available.
I would be inclined to review the rules, come up with a process for how can be done, then discuss it with the player. Give them the player the option switching out the rods for a alternative if they choose to after the discussion.
The following suggestion is not IAW the RAW. It may not even be that good. Rather its just intended to give the player a way to use his favourite toy and make some cool moves.
-- Round One --
1. It requires a Critical or Called Shot to achieve the "perfect placement" initially. [1]
2. Following a successful placement of the first rod, a Grapple check [2] is required to lock the first rod.
-- Round Two --
3. A second successful grapple check is required to successfully activate the second rod and restrain the opponent.
[1] Using the Called Shot option puts the choice to initiate in the players hand, using the Critical Option puts it in the hands of the dice.
[2] Grapples checks normally require a free hand, but this could be covered by making both checks at a Disadvantage.
If the player does choose to continue using the rods, keep in mind some of the suggestions in the thread as to how opponents might deal with it. I particularly like the deactivate and take option.
thotd