The 'P4, increase in the next st' only repeats twice. It's just as Ingrid wrote it out:
"You'll P4, increase in the next stitch, p4, increase in next stitch, p4"
You should have 14sts on the needle before the row begins and finish with 16sts.
There are videos for various increases under the Free Videos tab at the top of the page, Increases.
Good luck finishing up the sweater!