PhD student as corresponding author: author list and logistics
The authorship order and corresponding author issues are separate, and I think considering them separately will make it much easier to address each of them. There is no need for the corresponding author to be in any particular position in the authorship order.

Yes, it can be common for the corresponding author to be last in fields with a "final author is senior author" convention, but that's by correlation, not causation: senior authors are both last and are often corresponding authors.

These days, I don't think the corresponding author role is important for much beyond submission and handling things with the editor. There are much better ways to find contact information for authors, such as their personal or institutional website. If you expect to still be at the same institution (or at a minimum still have access to your email) when the paper has gotten through the publishing process, I think it's not much of a problem for you to be the corresponding author.

In my field which has similar authorship conventions, "You*, Student, Advisor" seems appropriate to me.