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I think so, Brain, but the coefficient values of your formula aren't right. This should be sine, not cosine. Poit. Kinda flips the whole thing around. And the frequency needs to be an exact integral multiple of the input, doesn't it?

If you feed the output into the limiter without positive feedback into the stabilising modulator the reverse signal's going to overload the output transducer and it'll be all ooooo, wooble-wobble. Not hypnotic at all. Nope. Won't work. (One of them's a genius ...)