As others have said, you should have decreased your CPC before increasing the budget. Because usually you shouldn't see a 300% rise in CPC from a high spend increase, I've seen increases of 25-30%. If you had dropped your CPC bid down to 50c; then you might have ended up with only a 30% CPC increase.
From now on, keep in mind that any drastic changes to the spending limit of a campaign should only be done in the wee hours of the new day. You never want Facebook's system to do a catchup since it will fuck you over.
Good thing though is that you should be able to drop your bid to about 50c right now, and wait for the new day to start, and your CPC's will be back to normal; and you'll be back to making green.