On that note, though, I would like to buy some BTC using PayPal and would be happy to go through an Escrow with someone [ with a good rating/rep on here ] to participate as the Escrow. I think using PayPal Gift makes it impossible for a chargeback to occur?
I think you're confused. A chargeback is a forcible return of funds to the customer. Since you're the one sending the money as payment for coins, you'd be the one to issue a chargeback. The person selling the coins is the one who has to be cautious.
Also, a chargeback can occur even if the money is sent as "gift". For example, if the funds came from a linked credit card instead of your PayPal balance, the issuing bank can issue a chargeback.