Actually, the x86 'ADD' instruction automagically sets the 'OF' and 'CF' flags for you for signed and unsigned overflow respectively [0]. So all you need to do to panic would be to follow that with an 'JO' or 'JB' instruction to the panic handling code. This is about as efficient as you could ask for, but a large sequence of arithmetic operations is still going to gum up the branch predictor, resulting in more pipeline stalls.
[0]: https://www.felixcloutier.com/x86/add