I'm a flautist, but I've helped teach other instruments because the principles of practice habits for learning an instrument are almost always the same.
To improve technique to the maximum you are capable of, you need a metronome, and you have to go beyond scales and scale exercises. I do my scales, in full range instead of just octave to octave. I do my scales in various meter, sometimes triplets, sometimes triplets and eighths, since flute involves tonguing and slurring, I will do tongue 1 slur 2 tongue, slur 2 tongue 1, tongue slur tongue, tongue tongue slur slur, etc. I get extremely creative, and make my scales as hard as possible. I do my majors, natural, harmonic, and melodic minor scales, as well as modes. I do arpeggios, major, minor, 7ths, diminished, half diminished, and augmented. I do octave slurs, high register specific exercises, enharmonics, trill fingerings in various patterns, and as much site reading as possible in as many keys as possible, as lots of atonal stuff.
To improve musicality, you have to have others listen and critique you. You can only hear so much, and playing in as many styles as possible is paramount. Just in flute, vibrato and tone differs greatly when comparing classical music to chamber music, and it's especially different in latin jazz. By playing in many styles, I can immerse myself in and imitate the sound and phrasing necessary, and having other more experienced players listen to me helps greatly with that. For this reason, I attend clinics and master classes as much as possible.
