If Pawmot already has 100 damage on it, can I choose to do 60 damage to Pawmot with its "Voltaic Fist" attack in order to Paralyze the Defending Pokemon even though it would knock out my Pawmot?
Yes, there is no restriction to prevent that. The Defending Pokemon will still be damaged and Paralyzed, and then you check for Knock Outs, including Pawmot.
Voltaic Fist



