We present the results of extensive multi-frequency monitoring of the radio galaxy 3C 111 between 2004 and 2010 at X-ray (2.4--10 keV), optical (R band), and radio (14.5, 37, and 230 GHz) wave bands, as well as multi-epoch imaging with the Very Long Baseline Array (VLBA) at 43 GHz. Over the six years of observation, significant dips in the X-ray light curve are followed by ejections of bright superluminal knots in the VLBA images. This shows a clear connection between the radiative state near the black hole, where the X-rays are produced, and events in the jet. The X-ray continuum flux and Fe line intensity are strongly correlated, with a time lag shorter than 90 days and consistent with zero. This implies that the Fe line is generated within 90 light-days of the source of the X-ray continuum. The power spectral density function of X-ray variations contains a break, with steeper slope at shorter timescales. The break timescale of 13 (+12,-6) days is commensurate with scaling according to the mass of the central black hole based on observations of Seyfert galaxies and black hole X-ray binaries (BHXRBs). The data are consistent with the standard paradigm, in which the X-rays are predominantly produced by inverse Compton scattering of thermal optical/UV seed photons from the accretion disk by a distribution of hot electrons --- the corona --- situated near the disk. Most of the optical emission is generated in the accretion disk due to reprocessing of the X-ray emission. The relationships that we have uncovered between the accretion disk and the jet in 3C 111, as well as in the FR I radio galaxy 3C 120 in a previous paper, support the paradigm that active galactic nuclei and Galactic BHXRBs are fundamentally similar, with characteristic time and size scales proportional to the mass of the central black hole
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