n., 1. a highly emotional state in which one may assume defecation is imminent. 2. any bowel excrement, other than gaseous, produced in response to a high level of anxiety. v., 3. the act of defecating in response to extreme anxiety.
I know that you are worried about your hair but don't let it get you into a panicdoo. If she doesn't calm down we'll be dealing with a panicdoo. Sure the boss is intimidating, but don't have a panicdoo.
The root words of panicdoo are, of course, panic and doodoo.
This word came about when a doctor abbreviated panic disorder on a prescription as panic DO. I suspect that after the word comes into widespread usage the the more hip folks will begin to shorten it to p-do.