This is a rich passage with a lot to analyze. The creature is angry that Victor will not create a female companion for him, and therefore, he is threatening Victor and saying he will seek revenge on him for making the creature live a life of solitude.
1. This is a significant point within the novel's larger narrative because it marks the beginning of the novel's climactic action. The monster's threats foreshadow the book's horrific ending, starting with the creature's killing spree on Victor's wedding night. Additionally, this passage deals with themes important to the novel as a whole. Victor's decision not to make a mate for the creature relates to the novel's themes concerning the limits and morality of scientific experimentation and the limit of man's abilities. The section also deals with the novel's focus on consequences and absent father figures. Victor is being forced to pay for abandoning the monster and not taking responsibility for the life he brought into the world.
2. You could make a case for the significance of many words and ideas in this passage. Some of the ones that stand out to me are vengeance, tyrant, and snake. With the word tyrant, the monster is vilifying Victor. Shelly is humanizing the antagonist in his most sinister moment. The snake could be read as a biblical allusion; in the Book of Genesis, the serpent tempts Eve and brings about the fall of man. The monster uses the word man to refer to Victor in this section, and it is worth asking whether Victor is a symbol for all men and the flaws they possess. Vengeance is possibly the most prevalent idea in this passage. The monster sees his horrific murders as justified by a sense of vengeance. In terms of literary devices, this passage uses biblical allusions, analogies, and metaphors (comparing Victor to tyrants and mankind and the creature comparing himself to a snake), foreshadowing (for the monster's actions at the novel's end), and dramatic language.