ilvl : 499
I did this with my usual raid gear, without any particular gems/reforges to be more prepared for this fight. I have Agility and Crit gems/enchants/reforges (it's more fun than haste in raids).

Tips do do it more smartly :
- clear the trash and breathe
- use Transcendence + Zen Meditation to reduce the damage of explosions
- if you don't clear the trash, Tiger's Lust can get you out of Cobalt traps (but it will be reasonable only when it's Chi free in 5.2, otherwise the loss of 1 Chi can kill you).

Gear :
- possibly doable with ilvl 510+
- haste is probably a better stat for both dps and healing on this fight (crit is usually a better damage increase for Brewmasters, but this isn't a standard fight). You should have as much energy regen as possible to cast Spinning Crane Kick, and use Keg Smash as much as possible without being forced to spend all your energy on Expel Harm to stay alive.
- I'm not sure about Expertise. Common sense would make one say that it's the best secondary stat to beat the enrage timer, but a great part of the damage comes from Chi Wave and Expel Harm, which do not benefit from Expertise beyond 7.5%. Still, 15% Expertise is probably the way to go if you want to beat the enrage, but not at the expense of too much Haste. Further investigation is needed here.

When 5.2 is released, Chi Wave will become free. You'll cast more Blackout Kicks, and Expertise will be the clear winner. Besides, the increase in ilvl implies a bigger haste pool, and thus more Keg Smashes since you might have enough energy for Expel Harm.