I would like to warn you. I was in your same position. Xanax will stop a panic attack in about 5 min. However it is addictive and with alachol dangerous.
In a matter of 3 weeks I got two d.w.i.'s and wrecked 3 cars while taking xanax and drinking. I blacked out on xanax. I am blessed with means so I was able to beat the dwi's but it cost me an arm and leg. I got on Lexapro and it cured the attacks with no side affects. Please be careful with Xanax.
I have agoraphobia and yes, xanax does help. It is especially helpfull with panic attacks.
To answer ur next 2 questions xanax is extreemly addictive. You should only take it occasionally when needed, eg not everyday, only when really needed. If taken regularly you quickly develop tolerance to it and have to keep increasing the dose to recieve the same effects and keep away withdrawal symptoms. Side effects I experianced with it were drowsiness and depression. But thats just me. If you do get hooked it can be very hard to get off as the withdrawal symptoms can be quite severe, I experianced paranoia, hearing things, thinking things were on my face, a sense on unreality.
Xanax is a wonder drug for the occasional panic attack, it is very effective. But it is defenitly not advisable to take it as a regular drug.
You should not drink with Xanax as it increases the effects of alcohol and can have some unpleasant side effects. It is not advised to drink while on any antianxiety or antidepressant drug.
It's up to you whether to try it or not, I'd give it a go and see how it effects you.