lilylove, I always buy yeast in bulk as well and keep mine if the freezer. However, once it is past its expiration date, I always proof my older yeast before I use it to ensure that there won't be a failure. No use wasting all that time and energy and not have something rise. Yeast loses its potency as it ages, and can require longer rising times. Low and slow rises help develop flavor.
As for frozen bread dough the answer depends upon what kind of dough. Freezer dough recipes are high in yeast and sugar and low in salt. Bread flour recipes hold up better than all purpose flour. Lean dough, such as your pizza dough, freezes better than rich dough made with butter and egg.
To freeze dough, use a freezer proof bag and only freeze the dough up to four weeks. It is best to freeze the dough in the shape that you are going to want it in (round, square, rectangle--I learned that from a Master Class with Nick Malgieri)
Thaw frozen dough either at room temp or in the fridge in the freezer bag. Then, remove from the bag, shape, let rise, and bake as dictated by your recipe.
To shape your dough before freezing, cover your needed kneaded dough and let rest 20 minutes. Shape as you wish and freeze as quickly as possible.