Blind Faith in Knitting Instructions

I'm not too sure I have enough of it.

I'm aiming for this: and so far, I have this:

Every time that the directions say drop next st and allow to unravel back to CO, I panic just a little. Once I have panicked 20 or so times, I'm on to the next sections, where the directions say things like: BO 3 sts purlwise (1 st on right needle), drop next stitch down to yo; place st just worked on crochet hook (What!!!! Crochet???) and chain 2, then return ch st to right needle; p next st on left needle then pass ch st on right needle over st just purled; drop next st and allow to unravel back to yo (panic, panic) AND the directions say that This project is ideal for using (or learning) the technique of knitting back backwards. HUH???

I have no idea if I am on the right track or not, but the stitch count keeps coming out right, so maybe I am. Maybe, maybe, maybe. Fingers crossed, but not while knitting.