Yes, you will be having massive bounce with that arrangement. If the interrupt routine takes longer to run than the period of the bounce, you may be nesting interrupts. This is bad.
I usually do my debouncing in hardware, using this circuit:
but where the inverter is actually the input pin. R1 = 10K, R2 = 470Ω, C = 100nF
You could also disable interrupts with the first interrupt, and not enable them until you are ready to process another interrupt.
That way a new interrupt does not interrupt the ongoing interrupt, so to speak.