I want to make a character that uses sneak, dual wielding and destruction magic. Mostly sneak attacks but when things go wrong use a rune while running away or a wall of ice. Also would like to cast a cloak spell then go into dual wield attack mode. Maybe some alchemy to make weakness to magic poisons. Originally I wanted to use all the types of destruction magic, but that's going to be too many perks so probably just focus on frost spells. Perks will be in one-handed, sneak, light armor, destruction, alchemy and 2 in smithing to smith magic items.

The question is can I even attempt to use destruction without enchanting and does frost magic svck so bad that I shouldn't even attempt this?

My bigger concern would be that relying on sneak attacks would abrogate the need for using spells at all. If things go wrong, a rune probably isn't going to save you.

Runes, walls, and cloaks in my experience are best used to prepare the ground before combat. But if you're using stealth, your cover will be blown when you cast these spells beforehand unless you also take Illusion up to 50 and get Silent Casting.

The trouble with cloaks and runes is they quickly become under-powered. They do not have higher level versions, and are not affected by the damage up perks, so while your tactics may work at lower levels, you will need to find a whole new way to play when you get to the tougher enemies.
Also, even with silent casting, you can be seen when you cast a spell. Having a spell prepared but not cast does not shed any light as far as enemy detection is concerned, but it's a different story when you loose the spell.
Illusion works so much better with sneak; doesn't matter if they see you when they are running or fighting each other.

This. There is no better thing to do than setting up a rune and then distracting the enemy to go down that hall with an arrow or something.