PokéBase - Pokémon Q&A
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Also what egg are you supposed to get that gary got on island 4 and where do you find it

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No, you only get one masterball in each game. However, you can trade items so in theory you could keep playing a game until you get the masterball then trade it to another game. That would take aaaaaaages though!

UPDATE: in later games there are ways to get more Masterballs in addition to the one you are given:

Generation IV - lottery jackpot
Generation V - Participate in at least 50 trades

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I just get my brother to do it for me. Also getting the TM Earthquake.
You can get more, see my answer.