This could be a couple of things. The first that comes to mind is a psychogenic panic disorder, wherein panic strikes, hyperventilation occurs, followed by syncope. This is not to say the condition isn't "real" -- clearly it is. It simply means that the origin is psychological, with symtomology progressing into the physiological. If so, this type of condition is usually easy to treat, both in the near term and long term.
Alternately, this could also me a neurological matter. While the symptoms do not sound like a perfect match for grand mal epileptic disorders, a medical history would probably serve to either confirm or rule out this as a pathology. Questions I'd ask would include:
In either case, the condition you describe does not sound life-threatening (although I might warn you against operating power tools, driving, etc. in a situation where you're likely to encounter this stimulus), and most likely has a very good prognosis. It should, however, be discussed with a health professional in a setting where you're face-to-face.
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