A 32-year-old male with acute appendicitis is brought to the OR for emergency appendectomy. He ate a full meal 2 hours ago. On induction, you plan rapid sequence intubation. After pre-oxygenation and loss of consciousness with propofol and succinylcholine, you notice the patient is difficult to ventilate manually—high airway pressure, reduced breath sounds bilaterally, and oxygen saturation begins to drop. What is the most appropriate immediate next step?