Depending on how you rate personal range spells, this could be 36,400 gp, 48,000 gp or 109,200 gp.
Basically, it's just caster level * spell level * 400 for the single use, which gives 36,400 gp. If you think personal range is a significant limitation, you might bump the effective spell level up which gives 48,000 gp (the minimum CL goes up too). Or you could multiply by 10/3 which is the ratio between a wand charge (only usable by casters) and a potion (usable by everyone), which gives 109,200 gp. I wouldn't do both though.
Dividing it up into individual minutes is generally not worth a change in price.
Edit: I should say depending on how your GM rates personal range spells.
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This is tricky because that spell has a lot of bonuses that are ok on a wizard but awesome on a barbarian.
I certainly would charge for breaking up the duration - 15 one-minute uses is much nicer than one 15 minute use.
One could conceive of a 8th level version of greater polymorph that allowed the caster to perform this spell on others, so bumping the level by one seems reasonable.
I'd price it as a 5(+)/day 8th level spell at caster level 15. I'd also fix which giant type is copied - most items that duplicate spells with "choices" pre-choose (unless wands or scrolls). So you would have a vest of troll form or a vest of stone giant form and the user would only gain those special abilities.
So 8*15*2000 = 240,000. Hrm. That seems excessive. There is a similar item (kinda), that allows a druid to use giant form I with wildshape (mask of giants, from APG). It costs 90,000. Your item doesn't require wildshape, but also doesn't last nearly as long. 90,000 is probably around the correct ballpark for what you're getting here.
That got a bit rambly. Sorry, I was thinking "out loud" as I typed the post.
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Be very careful with allowing restrictions to reduce the actual creation cost of an item; it can lead to a very unfortunate place. Why pay 200,000 for a +10 weapon when you can pay 2,000 for a +10 weapon only usable by lawful good left handed dwarven fighters named Bob? The second one also has the advantage of being useless to thieves if stolen.
There is no actual RAW when it comes to custom items, just guidelines. (GAW?)
Also, if you want to be strict, the class/alignment restrictions say they reduce the price, not the cost. It's probably an overly strict reading of the rules, but it actually makes a lot more sense as ryric pointed out. It's worth less to a merchant, but not to the character that made it. (Edit: And as a player, you don't want to set that precedent or all the items you find will be kobold only.)
@ryric, Why 5/day? Each casting lasts at least 13 minutes (15 if you bump the spell level). There are many existing items that subdivide duration without charging extra (see boots of speed).
Anyway, this item is basically mask of giants but without the wildshape restriction. You could probably replace that with rage without altering the price drastically. Rage doesn't last nearly as long as wild shape though.
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@ryric, Why 5/day? Each casting lasts at least 13 minutes (15 if you bump the spell level). There are many existing items that subdivide duration without charging extra (see boots of speed).
My initial thought was that this might as well be a 15/day, 1 minute each time item because that's how it would really be used. But as you saw going down that road produces a completely outrageous price.
I agree now that 90k is probably the correct ballpark.
On a wider note, I would say subdividing rounds is less powerful than sudviding by minutes (unless you have so many rounds that your duration is measured in minutes anyway). You can "pre-battle" buff and have still 9 rounds left to use your item; this is less feasible with an item like boots of speed. 13 minutes, broken up, is enough to use the item in front of 13 doors you suspect might have fights. In one day.