You would, but all hallucinations. You can also see other random stuff and you wont be able to breathe or move for a brief moment because your Brain is still in a state of sleep. If you need to get out of a Lucid dream, hold your breath. It'll send your brain into shock (Not the dangerous ones) and wake you up hopefully.
Isn't breathing involuntary though, to some extent? I'm pretty sure that if you wake up in sleep paralysis you won't necessarily not stop breathing for moment because it's an autonomous function of the body most of the time. Of course, if I'm wrong, you still get that shock you mentioned.
Sleep paralysis was just motor function of the body so you don't move while you're in REM sleep, and certain people have a disorder or something by which this doesn't occur and they literally flip out in their bed (standing their body up, falling off into a wall, knocking stuff over, less like sleep walking more like moving in your dream actually makes you move in real life). It's not like your body stops breathing while you're asleep / in sleep paralysis and when you wake up you start to breathe or something again.
That was my understanding?