In this paper, we describe the “Medium Bands, Mega Science” JWST Cycle 2 survey (JWST-GO-4111) and demonstrate the power of these data to reveal both the spatially-integrated and spatially-resolved properties of galaxies from the local universe to the era of cosmic dawn. Executed in November 2023, MegaScience obtained~30 arcmin2̂ of deep multiband NIRCam imaging centered on the z~0.3 Abell 2744 cluster, including eleven medium-band filters and the two shortest-wavelength broad-band filters, F070W and F090W. Together, MegaScience and the UNCOVER Cycle 1 treasury program provide a complete set of deep (~28-30 mag) images in all NIRCam medium- and broad-band filters. This unique dataset allows us to precisely constrain photometric redshifts, map stellar populations and dust attenuation for large samples of distant galaxies, and examine the connection between galaxy structures and formation histories. MegaScience also includes~17 arcmin2̂ of NIRISS parallel imaging in two broad-band and four medium-band filters from 0.9-4.8um, expanding the footprint where robust spectral energy distribution (SED) fitting is possible. We provide example SEDs and multi-band cutouts at a variety of redshifts, and use a catalog of JWST spectroscopic redshifts to show that MegaScience improves both the scatter and catastrophic outlier rate of photometric redshifts by factors of 2-3. Additionally, we demonstrate the spatially-resolved science enabled by MegaScience by presenting maps of the [OIII] line emission and continuum emission in three spectroscopically-confirmed z>6 galaxies. We show that line emission in reionization-era galaxies can be clumpy, extended, and spatially offset from continuum emission, implying that galaxy assembly histories are complex even at these early epochs. We publicly release fully reduced mosaics and photometric catalogs for both the NIRCam primary and NIRISS parallel fields.