I did the exact thing and I survived.
As you will learn the application season comes in bursts. When you submit your app you will wait a little bit (for verfication), then you will get a crap ton of secondaries, then wait a little bit. Then you get interviews. So if you are worried about time commitment then you are find.
If you are worried about not being considered for interviews etc, I had plenty of interviews even though I did not have the classes done.