A 52-year-old male with COPD (FEV1 45% predicted) undergoes elective laparoscopic cholecystectomy under general anesthesia. Induction is achieved with propofol 1.5 mg/kg and succinylcholine 1.5 mg/kg. Five minutes into the procedure, the surgeon notes persistent abdominal distension and poor visualization. The anesthesiologist observes peak airway pressures rising from 18 cm H₂O to 32 cm H₂O over 10 minutes, with SpO₂ dropping to 88% and ETCO₂ rising to 58 mmHg. Breath sounds are equal bilaterally. Which of the following is the most likely complication and the most appropriate immediate management?