Eat, but eat healthy and track it. Also don't burn out on exercise. I made both mistakes last year, when I started relaxing the rides and eating more not only did I feel better but I lost weight like it was (literally) falling off. This year I'm trying to make a more directed approach to weight loss and exercise, focusing on eating the right amount and not over-training.
Also sleep, seriously. I can't imagine trying to live on 4 hours/night!