With the help of a fellow Stack Overflow member I got a code for having shortcuts using Keydown.

How to Check if jQuery .keydown() has any other keys pressed or not?

The code uses setTimeout function for every single keydown event. I am using it on a page where users usually type more than 1000 words. (4k-5k characters I assume)

This means Keydown would run on all those 5k keydowns and new timeouts will starts many times.

    var NewKeys = {};
    var NewTimeout;
    jQuery(document).keydown(function (e) {
        if (NewTimeout) {
            clearTimeout(NewTimeout);
        }
        NewKeys[e.which] = true;
        NewTimeout  = setTimeout(function () {
            if (typeof NewKeys[17] !== "undefined"  && typeof NewKeys[83] !== "undefined"  && Object.keys(NewKeys).length === 2) { 
                e.preventDefault();
                if(!jQuery('.SearchCreations').hasClass('Show')){
                    e.preventDefault();
                    jQuery('.SaveCreation').click();
                }
            }
            if (typeof NewKeys[27] !== "undefined" && Object.keys(NewKeys).length === 1) { 
                jQuery('.Thumbnail.Close').click();
                jQuery('.Action').removeClass('Collapse');
            }
            if (typeof NewKeys[16] !== "undefined" && typeof NewKeys[17] !== "undefined"  && typeof NewKeys[83] !== "undefined"  && Object.keys(NewKeys).length === 3) {
                e.preventDefault();
                if(jQuery('.CreationEditor').hasClass('Autosaving')){
                    jQuery('.StopSave').click();
                }
                else{
                    jQuery('.AutoSave').click();
                }
            }
          }, 200);
    });

Can this affect performance/reliability for the end user.

The last thing you want to do is have a webpage that is so resource intensive that your user's device stops working properly.

I tried this code on 6-7 year old laptop (i5, 4GB RAM, Windows 10). I noticed that if I keep using the page it works fine. But if I switch window to some other application using Alt + Tab and return back to browser in about 5-7 sec to my site, the Shortcut keys would stop working.

Can confirm this behavior is consistent, and it is reproducable on multiple Windows 10 machines as of now.