This sounds amazing! I really think it was a good choice to make this into a waltz.
00:37 This part is really good and I absolutely love how you spiced up the chord progression. I believe this would have hit harder if the last note went an octave up instead of staying down. Just to give it a looping feel and to warn the viewer that it's going to loop.
01:17 arpeggios going the opposite way would have enhanced the feeling of insanity that I get from this section of the song. The octaves really set the feeling of insanity and mental instability.
01:52, I like what you did there but there's just one thing. I know, I mess this up too but it's a good skill to have something that prepares the viewer for a change in the music. Something like what you did there really needs something like a cymbal clash so that the viewer isn't expecting the same 1, 2, 3 but gets something else. This section sounds really good but a warning would have made it even better.
02:10 really gives me the feeling of a spinning carousel. Like I've been drugged in a carnival and I'm about to get beaten up by a bunch of clowns. I really really love 02:36 because it makes the song infinitely more catchy.
I absolutely love this piece. Keep it up!