Your plan is great! I would hide (there's no other word for it) all that I wasn't working on right NOW. I would also rotate among my three or four projects so I wouldn't get discouraged or lose interest in continuing to sew.
I admire your courage in deciding this for your own sanity and could probably only make myself finish two for each new one (which would still get me out of the hole).
LIZ in Kalamazoo, MI