Yes, it should work OK
However, I'd stack the deck a bit, and use a self-priming paint
(I really don't want to do a paint job that "should" stick if you know what I mean)
If it is truly High Gloss then odds are it's oil based. You should really give it a coat of Oil based primer like Zinssers and then go over it with whatever you want.
Good luck. If it were me, I'd be calling in sick that day.
The Oil Primer is going to do 2 things here: First, it's going to help your new coat grip to your old coat. (Options such as Zinsser BIN, Zinnser Cover Stain, KILZ.)
The other reason to use the oil is that currently, the RED and YELLOW (the 2 toughest colors to both paint AND to paint OVER, by the way) are now considered "stains." That is, they're tough to cover and you don't want them there, any more. No Latex stain-blocking primer works as well as an oil stain-blocker. That goes for the latex Kilz products, the 123, and countless others. Even with a latex bonding agent-- sure, it will "bond" but it won't block as well as an oil.
Afterward, use your "regular latex paint" as noted.
Tell the guy at your paint store you want an OIL grip-coat primer, and tell him to tint it toward your desired color. Even KILZ will take 2 oz of colorant. It won't BE the new color-- probably not even close, but it'll get you partway there, and allow you to not have to then overcome the white primer with your new color. (Such as when you want to get rid of the red & yellow and change the walls to lime green & DPW orange, instead!)
Again, good luck.
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