Finally, my team (AFC Wimbledon, League 2, the year is 2019 now) is finally fully fluid with this tactic. I'm still using the "Control" version to score goals, but the default (counter) tactic is working well defensively, but I find my players still missing easy goals.
Results wise, we were 18th when I took over, after maybe 10 games into the season, so at that point, we started learning this tactic (both versions). we're now 2nd in the league, with the best goal difference, so quite a turn around.
Your players are going to pick up cards, and make way too many fouls early. When someone gets a red, assuming they deserve it (which is very likely) just issue a warning, which they should accept, and the whole team should dial the aggression back a bit. I've played out maybe 20 games or so and the situation improves dramatically.
That said, teams are going to figure out to go route one. They won't get many chances, but they will score against you. You need at least one fast central defender, and a pretty fast goalkeeper with a decent "rushing out" attribute.