In the sentence: Not only it does affect women and children, but it also affects our society and our future generations. is the sentence correct? Thank you :)

Yes, the sentence is correct.

It's a compound sentence with correlative conjunctions.
http://grammar.ccc.commnet.edu/grammar/conjunctions.htm#correlative_conjunctions

No, the sentence you provided is not correct because it is missing a subject before the verb "does." To correct it, you should include a subject such as "does it":

"Not only does it affect women and children, but it also affects our society and our future generations."

To determine whether a sentence is correct, you can follow these steps:

1. Identify the subject: In this sentence, the subject is "it."
2. Confirm the verb agreement: Check if the verb in the sentence agrees with the subject. In this case, the verb "affect" agrees with the singular subject "it," so it is correct.
3. Verify the punctuation and word order: Make sure the sentence follows the correct sentence structure and punctuation rules. The corrected sentence follows the proper order and uses appropriate punctuation.

Remember that even if a sentence is grammatically correct, it may still need revising for clarity or style.