A larger pot and braiding are not the solution to the problem. As Lin indicated, it is overgrown because it has never been pruned or pinched back.
To substantially shorten your Pachira, cut the stems back to any point where you would like to see new growth emerge. If it is now or reaches the point after pruning where it is at the height where you want to keep it, simply use your fingertips to pinch out new leaves as they emerge. This pinching is a way to keep it from growing taller, i.e. maintaining the status quo.