What Causes Severe Itching Under The Breast?

A week ago i woke up to a sudden itch under my breast When i looked down the skin under my breast was peeling and is developing a light pink to red rash where the skin peeled away. It is soft not raised up or bumpy but there has been an increase of sweating and acne lately. Should i be concerned? The itch went away but not the peeling or the red. It reminds me of a sunburn kind of but was not exposed to the sun. I have been feeling rather dizzy lately but that has been going away slowly. Ihave had diarhea recently and some breast pain that was very intense but it too has gone away.