The total volume of the workout should be determined by your own capabilities. When you can't hold pace anymore without great struggle, the workout is done. The example workout I gave would certainly be tough, especially for a speed oriented runner.
Your initial message gave me the impression that your speed isn't close to your endurance, which means you would be more likely to hold onto 400s at 800m pace than a miler would.
Nevertheless, the point is to highly stress your anaerobic system, let it recharge, then hit it again. The 800 jog in the middle can be a slog. The point is to recover to the point you can repeat the next set of 400s like you did the previous set.
You could also run 300s instead of 400s as long as they are long enough for you to feel the burn the last 50-100m.
Give yourself a full two recovery days afterward before trying another hard workout.
...But as I said, I would bother with this if I was trying to peak for a 5k, especially if speed wasn't my strength.
As a general philosophy, I believe that you should work on weaknesses early and focus on strengths late in your total training cycle. In other words, do hills, hill sprints, downhill running, bounding, fast 400s with big rest, late in base phase and early pre-comp phase (assuming ~6 weeks/phase) since you consider speed a weakness.
It's kind of foolish to try to put together a plan for an athlete I don't know, but see if this sounds like it might work for you:
If I were coaching a runner like you (or at least one that is more endurance-based than speed-based), six weeks out from your goal race, I would have one workout each week done at VO2max speed. Earlier in the season we would do these with equal run-rest ratios, but six weeks out we would begin cutting these down so that if we were doing 5-8 x 1000m repeats we would cut the rest down to 2 minutes rather than 3 minutes. We would also have one tempo workout lasting 25-30 minutes at current 5k-pace + 20-30 seconds. Add in 2x400 firm immediately before the tempo run. Cut your long run back to 20% of weekly mileage and make it progressive, so that the last 1/3 is very firm. On the easy days after your aerobic run, do 4-6 x 20 sec firm strides (800-->400 pace).
Three weeks out from your goal race change the VO2max workouts into race simulations. Break 5k roughly into 3 pieces with 1 minute breaks/1000m run: 3 x 1600 w/1:36; 2x2000 w/2:00 + 1000, 3200 w/3:12 + 1200 w/1:12 + 600, etc. Drop the 400s before the tempo run, decrease the duration to 20-25 minutes and increase the intensity by running at current 5k pace + 15-20 sec. Keep the progressive long run, but keep it under control - just run the last 3-4 firmly and keep the rest of it at a good training pace. Keep up the strides, but you might want to change to 3x300m strides at 800m pace to develop the fluidity you want for a strong, long finish.
The last week, I would do a 1600m TT on Mon, assuming a Saturday race and a 3 mile tempo on Wednesday. Keep everything else the same; though, save the progressive run and make it a nice long recovery run the day after the race. Don't drop significant mileage unless you are a high mileage guy. If you're running less than 50 mpw, I wouldn't drop below 40 mpw.