i dont think you will lose while you are attempting to draw. regarding to game rules you lose if you have 0 cards in your deck AND you cannot win that turn.
example: if you have 1 card in your deck and you play Time Leap, then you draw 1 card (cannot draw more of course). now you wont lose immedately, you will lose in the next turn if you cannot win in the current turn. right?
The mechanic can work the way that you intend, but it all depends on the way that the card itself is coded. For instance, if you try to draw a card using Golden Hourglass when you have 0 cards left in your deck, you will lose. If this card tried to draw a card in order to fill your hand while there are 0 cards left in your deck then, again, you would lose.
In order for the card to work the way you intend it would have to be coded so that when there are 0 cards left in your deck it no longer tries to draw cards, regardless of how many cards are in your hand.