well TS never try you'll never know...

1) do excercise
first of all, u dont need much to for this... a 20 mins HIIT will suffice... better still if you can incorporate some weight training which can help in burning calories while you are resting, refer to this Toning article. FYI one pound of muscle burns approximately 30-50 Calories per day. In contrast, a pound of fat only burns about three Calories per day.

And your excuse for working in IT firm and OT anytime, I am working in an audit firm and I OT all the time... you just need to make sometime for your workout session (though sometimes is just not possible) but u said you are learning latin dance, so i assume that you have some time to spare As long as your working hour is not like 8.30am to 2-3am for 1-3mths you'll do fine

2) reduce calorie intake
you can always reduce calorie intake by consuming more fiber and protein instead of carbs and fats... i am still a newbie in this section, i think syd will do a better job in advising here

well pros, correct me if i am wrong... i am still a newbie right

here is the recent quote from other forumers regarding HIIT (will insert moar if i find them)
Babyblue

just my 2cents