Hello Barbie
Yes, a corset can give the impression of suffocation! One point is that corsets have not been everyday mainstream wear since the 1960s or so, so we are familiar with having our breathing patterns changed. I say "changed" because you can breathe in a corset even if very tightly laced, but you need to change your breathing, and accept what the corset is doing to you, and accept the change in movement and posture.
Why not try it again, gently, and avoid doing any thing wild when you first wear it.
Betty