Will Parelli calm him down?

Emily, with thrush you REALLY want to clean that hoof at least once/day. Better 2 or 3 times. The oxygen kills the thrush, so you want an access. I did use thrushbuster in past and it worked, however my vet suggested Koppertox last time my qh had a bad cut on bottom. It kills the bacteria + stays on hoof for sometime not letting thrush to develop. I've also used iodine solution on bottom in past to kill bacterias.

Yeah I know. I just wondered because you see the Parelli students on Youtube and like "Ohh he was an untrainable crazy mustang...and then we used Parelli" and the mustang is now bombproof.

Those people were likely working with a certified trainer, not just on their own with the help of some videos.

If he was my horse, I'd be treating the trush daily, then restarting him. Using a sedative is dangerous, is a crutch and teaches him zero. All it manages to do is get him ridden. You want a trained horse that doesn't need to be drugged for his entire riding career, I'm assuming.
My suggestion is to find a reputable trainer and get help from the basics up. You'll end up enjoying your horse so much more than you are now.

Unfortunately there are no magical shortcuts for the training. Those comparison you see most probably have days (and months) of hard training behind.

Emily

My experience of thrush is that where you have bad cases it is usually directly related to weak internal hoof structures, that is why it is so common in shod horses.

Thrush finds it more difficult to take hold on strong health frog tissue. Like us, the fungus is always present but if we are healthy we have a better immunity and can suppress it, whereas if there if a weakness things take hold.

I would speak to a good podiatrist and when you can I would be focussing on developing the structures, the frog, the ungular cartilages etc. As the foot strengthens so you will see less thrush and it's much easier to keep on top of.

You can do that with almost any consistent training method - classical or NH. Wild mustangs were ridden LONG before Parelli came around. Parelli has just made training seem "easier" by his "big box" methods - which I will caution you do not work for every horse - NO single minded method will work with every horse.
For your situation, you want a live trainer to work with the both of you providing instant feedback. Talking to people at your local feed/tack stores can help you find the right trainer in your area.
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I understand why others are saying you cannot learn from a dvd and should work with a trainer if you can. That said, I think in certain instances it can be done. After a bad fall and some health issues with my gelding last year, I researched the 7 games online, and took them to the barn with me. I was able to learn the 7 ground games on my own, with my horse. But, will that calm your horse down? I don't know.
My three year old mare used to be just as you described your horse in the cross-ties, but with consistency in her handling, and some time spent tied to the wall, she learned it is much easier and quicker, if she stands still.
I don't know much about Ace, but I have used Chill, by Alpha Omega. It is not a sedative, nor does it replace training, but it can help a high strung horse to focus on the task at hand. UFA, Greenhawk, they all carry it, not sure where you are located, I didn't look.

My horse was going to be put down due to his extreme aggressive behavior. He was a labeled biter, kicker, man hater and said to be dangerous, vicious and unpredictable. He tried to kill people, literally, by going for their throats. He would charge the stall door with ears back, teeth bared and would rear.

I've done nothing but Parelli with him. I have not studied directly with any Instructors. He is now a wonderful partner who no one believes used to be the way he was. He loves people now instead of hating them. I ride him around bareback and bridleless at w/t/c, over jumps, through fields, anywhere I want, and I have a high level of trust, rapport and respect. So you do not need to work directly with an Instructor to achieve high level results with your horse. Will your progress be a bit slower? Maybe. But it can be done.

Parelli will work for any horse, however it won't work for every human. The reasons why I won't get into.

If Parelli helps YOU calm him down then it may be worth looking in to. I have no experience with Parelli so can't comment on it specifically.

I can tell you that using Ace to calm him down for work under saddle is a dangerous and counter productive practice, I would be looking for another vet and possibly a trainer.

Your boy needs to look to you for reassurance and to seek the comfort that he needs in order to calm. That means being a strong leader and showing him there is nothing to be afraid of or agitated about.

I would be working with him in the round pen, watch his focus - is it on you or is it on his environment? You need him to be aware of his environment but his attention should be on you, waiting for your lead.

What is your previous experience with horses and/or training if I may ask politely and without judgment (hard to convey that sentiment in type)?

Okayy. He is my first horse. I've been riding for 4 years (lessons) and have leased before...We think the woman who sold him to us possibly might have had him drugged (or it was because he was undernourished) because he was nothing like he is when I first bought him...