Travis,
I would much rather see you cut out carbs than try using a dangerous drug like T-3! What you will end up with is basically an addiction to it, because your natural thyroid production will never recoup and you will actually be forced to use T-3 for the rest of your life! DO NOT DO THAT!
Okay, you're 100 pounds overweight. That's a lot. And it's going to take at least a year for you to reach your goals, but you can do it naturally. You can lose a tremendous amount of weight very rapidly by cutting out carbs - however, you still have to watch your daily calories. You can't just eat 5,000 calories a day of pure fat and expect to lose weight.
The danger in low-carb, is that you must "gradually" increase your carbs over time when you've reached your goals and want to go back to a normal, healthy diet. If you just start hogging carbs right away, you'll gain back fat weight a F#CKLOAD faster than you lost it!
So your best bet is to stick with all natural, unprocessed carbs and quality protein. Try to eat 6 meals a day, with your last two meals, much lower in carbs than your earlier ones. A good thick Meal Replacement Shake (Myoplex is probably the thickest that I know of) will fill you up and keep you from getting hungry. You can substitute 2 of your meals with those.
And get your ass in the gym! Use progressive overload on everything you do. Continually add more weight or more reps as your strength increases. And either add more time or a higher intensity to your cardio as your body becomes more comfortable with it. Never sit still! As you lose weight, you'll burn less calories doing the exact same thing, so you have to constantly KICK IT UP A NOTCH to keep getting the results.
You can do it man!