Depends on which meals you are eating. If you're eating breakfast and lunch, but little in the evening, it might work. But as sechmeth said, it also depends on WHAT you're eating and the amounts.
If you cut calories too much, your body will go into starvation mode; however, you have to cut calories a little bit (usually, by around 500/day) in order to lose weight.
I doubt it. By eating less, your body will get into a panic, it will think that it will starve, and therefore change your metabolism into keeping everything.
Instead, you should eat at least three times daily, but choose more healthy options, low carb, high in protein meals: Lots of lean meat, poultry, tuna, low fat-no sugar dairy, veggies, fruits and raw nuts, cut down on pasta, rice, bananas, sugar, honey and potatoes. No alcohol, it helps, too.
Good luck!