Hi Anthony,
I'd suggest a healthy dose of caution with that approach. F2.8 MAY be OK for what you're trying to achieve (would personally go for at least F4), but auto ISO will probably only increase the ISO when your shutterspeed has dropped to 1/60th ... and 1/60th may well be too low for what you're intending (you'll be relying heavily on IS and even then it may not freeze subject motion sufficiently).
Personally, I'd manually select an ISO that have me something closer to 1/200th -> 1/320th (if possible).