Bite off more than you can chew. The Cambridge Dicionary says:
to try to do something that is too difficult for you:
[Example] I think he's bitten off more than he can chew taking all those classes. (Emphasis added.)
This is a very common idiom, and, it is understood that the results will be bad. However, the Portuguese idiom says that the results will be catastrophic (will lose everything), and the English idiom does not say or necessarily imply catastrophe. However, one possible outcome in the example above is that the student will flunk out or go on probation, which is nearly catastrophic.
Other uses might be, for example, starting a business at too ambitious a level:
She has bitten off more than she can chew, leasing so much space in
this market. She'll go bankrupt.
Or, bringing in an example pertinent to the season:
You're going to fix a six course Christmas dinner for 30? All by yourself? You've
bitten off more than you can chew!
One can imagine the chaos in the kitchen if the cook is not highly experienced!