You should be aiming for 0.8-1g of protein per pound of lean mass (you minus fat) or to make the math easy, 1g per pound. So you should be trying to get ~120-150g per day. You'll want to spread it out as much as possible, as after about 3 hours anything you haven't used will get flushed out into your urine.
So 50g, 3 times a day would be way more than you need (assuming you're eating something else during the day... please tell me you're eating something else

).
As for that product itself, it's waaaaaaay overpriced. Mostly because it's full of trademarked proprietary junk, which does nothing more than try to justify the price tag. 60g of protein for 280 calories is actually a pretty good ratio. and if you look at it per scoop it's 20g for ~95Cal so that's a pretty good ratio (for example, the one I use is ~$18 for 2lbs at target, 25g and 140Cal a scoop). If you already have a tub of it lying around, i guess it couldn't hurt (but maybe just 2-3 scoops total a day, you want to still try and get most of your protein from food). But if you want to spend that much money, get Optimum Nutrition Gold Standard instead, clean product with no sketchy stuff (I hear vitaminshoppe.com and bodybuilding.com are good places to order it from).