I think you'd just help it come to its death by cutting the fronds down. Majesty palms are pretty difficult to grow indoors. They tend to decline quickly, and once they begin to decline they decline quickly. My best advice would be to treat the mites and put the palm outdoors if at all possible.

About their difficulty, YES, it IS true. I have maybe 25-30 different palm species now outside for the Summer. I noticed yellowish leaves now, can you imagine in the Winter...LOL. I don't know if it's mites or not, didn't bother to look (has been a dry summer so mites I guess are possible). Sorry that it was your FIRST palm, almost anything else is easier!! Here are some starters for mostly indoor living:

Rhapis excelsa (there are other species but this one is more typical)

Howea/Kentia Palm

Chamaedorea (almost any species)

Caryota mitis (Fishtail palm)

I know, not one is really commonly available and all are relatively costly. My big box stores USED TO have a fabulous selection..., now it's ALL MAJESTY PALMS.

I live in an apartment building so outside isn't really possible :/ I think it's mites because there's like a white webbing sorta thing on it... I put a little apple cider vinegar on her when I thought it was some kind of mildew. Seems to have halted the rapid dying but she seems to only have about two viable fronds left. Think I can save it???

It's primarily lack of bright sunlight (not necessarily direct), humidity AND mites... the first two are pretty hard hurdles to get over with this species even without mites complicating it. If you cannot put your palm outdoors, I would toss it and start over again with a more appropriate species for an apartment (many good suggestions above).

The first key is to get rid of the spider mites. Start with a sprayer hose. Don't use herbicide. Try a soap/water mist if the sprayer hose didn't get all of them. While majesty palms decline quickly when stressed, if you remove the mites, they will recalibrate. I have had some alive 3 years after a spider mite infestation.

Never cut a palm down to restart it unless it is known to grow multiple heads (such as a bamboo palm or cataract palm). A majesty palm is a single-trunked palm. If you see more than one trunk, then it's more than one plant. Cutting it down will kill it.