MacOS Monterey 12.4 Illustrator Frequent Crashing

With the M1 Macs you're going to be much better off if you run the most up to date version of Illustrator (26.3.1). This is because ever since the M1 came out there has been constant catch up with the Creative Cloud apps in terms of full compatibility with the M1. Also, I would suggest deleting your Illustrator preferences no matter which version of Illustrator that you dectde to use. This will put the program back to its defaults which should be helpful with the crashing issues that you've mentioned.

To delete preferences on a Mac:

The User Library folder in which Illustrator’s preferences are stored is hidden by default on most Macintoshes. To access it make sure that Illustrator is closed and click on the desktop to launch a Finder Window (Command-N).With this window in column view follow the path User>Home folder (it’s the folder with an icon that looks like a house—it may have the user’s name rather than “Home”) and click on the Home folder. With the Option Key pressed choose Library from the Finder Go Menu. “Library” will now appear within the Home folder. Within the Library folder find the folder called Preferences and within it find the folder called “Adobe Illustrator <Version #> Settings” (earlier versions of Illustrator might just say “Adobe Illustrator”) and the file called “com.adobe.Illustrator.plist” and delete both that folder and that file. When Illustrator is next launched it will create new preference files and the program will be restored to its defaults.

The advantage of manually deleting preference files in this manner is that after you’ve reset up the program (make sure that no document window is open) to your liking, you can create copies of your personalized “mint” preference files (make sure that you quit the program before copying them—that finalizes your customization) and use them in the future to replace any corrupt versions you may need to delete.