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This will work for you but it seems like you have a lot going on medically and mentally so you should discuss it with your Doctor first and get the all clear there.
Panic mode is a widely believed myth. What really matters is daily caloric intake, depending on your level of daily physical activity you have to have extremely low intake for several days (or longer) for your body to start having issues. Intermittent Fasting doesn't affect caloric intake, it shortens your daily feeding window so that it's harder to overeat and then those times when you are not eating your body is relying on the energy it's stored. Lastly if you are eating at a caloric deficit it's important to do some form of weight lifting to preserve muscle mass because your body will break down muscle to make up for the loss in calories, working those muscles will cause your body to maintain them and preferentially break down fatty tissue instead.