The biggest problem I see is the actual quilting process that stops the layers separating. You'll need to sandwich them up with the backing, Permaloft, and top, baste all three layers together, and then quilt them. Permaloft is a lot loftier and bouncier than ordinary quilt batting, and the fabrics are a lot more slippery...

If you don't want to poke extra holes in the fabric by pin basting or thread basting, you may like to look into the use of a spray baste, and what effect this might have on your materials.

You'll also need to see if your machine is capable of quilting this mix, and if you've never quilted before, you might need to practice quite a bit! OK, so this won't be as closely quilted as a regular patchwork quilt, but it's large, and you need to do it nicely for it to work.
Mad sewing witch!