Setting 'max_memory_usage' is limiting memory for processing of single query.
Limiting it to 1 GB is fine.
There are also options 'max_memory_usage_for_user' and 'max_memory_usage_for_all_queries', which you could set to 1 GB too.
But server is consuming memory not only for query processing, but also during background merges and for index.
If you have rather wide tables, then 1 GB of memory will not be enough.
Running with total of 1 GB memory is difficult and could be done only if you have tables with low number of columns.
I think that limiting total amount of memory with 1 GB is a bad idea.
I recommend to do some experiments and watch.