Freaking out a bit

I'm having the what-to-do-with-my-life panicks. This has happened once or twice a year since college.
I mean, I'm generally unsure of what I want to do and mildly miserable in whatever job I have, but during the panicks, I do things like quite jobs on the spot and threaten to move home to Wisconsin or start researching business schools.
Or grab scissors and start cutting my own hair. The haircuts I get now are WAY too expensive to start doing stuff like that again, though. Maybe I'll get a tattoo.
This is not suprising, considering WisCon and all (where I actually get to do something I love for a few days), but not terribly convenient. I'm about to start novel_in_90 which I was actually very excited for. And that IS something I want to do with my life. I don't have time for day job/career changes right now.
It's just that I've been thinking about going to grad school for an MFA in writing (or an MA in literature with an emphasis in Creative Writing, which sounds brilliant to me because the two do not exist in a vacuum, but apparently an MA is less respected when looking for Creative writing jobs? According to some people. As though any of those jobs really exist. Isn't that like worrying about what ogres like to eat for dinner? If the question arises, knowing the answer will undoubtably serve you well, but the chances...anyways, I would research this).
I have no illusions about what an MFA would do for me. It will not land me a book deal. I will probably not get a me a job. I will just be doing something I love for 2 years. The fear, though, is that once I get out, I will be even LESS employable than I am now. I'm not especially knowledgable about the video stuff I do now, and after 2 years I'll probably be too rusty to jump back in (plus, I will care even less).
But I want to consider carefully before I make any more stupid life choices. I can't say I regret anything I've done in my life yet, but I do think it's time for a bit of a plan. Also, I applied to 4 MFA programs once before (er, the top 4 in the country, which I now believe is meaningless, plus I was straight out of college) and was rejected by all 4. Which I do think is a blessing, since now there is no way I would want to go to any of those (except maybe that one in Austin that is free).
In the end, I think it would be worth it for those 2 years. And at least it's a chance. Where I'm going now is NOWHERE.
Or maybe I should just quit and go work at a coffeeshop, since I always talk about how I want to open a coffeeshop one day. Which is, of course, one of the hardest businesses to keep afloat and make money at. Why find an underserved niche and fill it, when I can do what everyone else tries to do?