Am I crazy - competing in figure competition?

It has been something I thought about before, however, I could never see myself getting on stage in basically a bathing suit. My fiance also mentioned a few times he thought it would be something I would do. I am the type of person who always wore shorts with a bathing suit, even when I was very skinny. I have always been self conscious of my legs.
My other thing was my priority and long term goals are triathlons. I had thought I would have to cut back cardio and it may affect my training for those.
My cousin recently mentioned she wanted to do one and suggested I train with her. At first I said no, but started talking to my friend (both he and his wife compete, she is going to Nationals and is a personal trainer) on her behalf. She offers a diet for now, and in the 16 weeks prior to the show, workouts (not one on one) and coaching for things like posing for a really reasonable fee. The more I talked about it, the more I considered it. My fiance was also encouraging me to go for it. When I mentioned it to my friend I was thinking about doing it, he was really encouraging and thinks I could. He says I will still be doing a lot of cardio.
I still have some weight to lose but I definitely think I could do it in time. I think it would be a huge accomplishment to get over my insecurity and get on stage. Plus, I would be in good shape. My biggest concern is the diet, I need cheat meals and I hate oatmeal and egg whites.
I really have little knowledge about it really. I am familiar with the diet because my friend is also a co-worker, so I know what he eats (although he is bodybuilding) and am aware how much time they spend at the gym.
I guess what I am looking for is anyone with advice, thoughts, whatever on this. I have scheduled a consultation with her tomorrow night. Am I doing too much with swimming, biking, running and this? Any resource suggestions are welcome as well.

ETA - the competition would be in April