I think this is a panic attack (see http://en.wikipedia.org/wiki/Panic_attack). That's different from anxiety disorder.

Read about it in the article above for starting to deal with it. Breathing exercises will help you, so will meditation, and cutting coffee and caffeinated drinks like Coke from your diet.

Note: it doesn't signifies the degradation of your mind, it's more related to your breathing and your thinking patterns than to any thing really broken in your brain. And it's perfectly treatable.