I can't seem to find anything wrong in saying "When she lost her wallet, she typically panicked," considering that it's typical, i.e. characteristic, of her to panic whenever she loses her wallet. Hence, when she lost it yesterday, she typically panicked.
However, "When she loses her wallet, she typically panics" sounds weird to me.
I would rephrase as follows:
Whenever she loses her wallet, she typically panics.
No matter when she loses her wallet, she typically panics.