Agreed, you need to get the NO3 level way down. Not just because high NO3 levels are harmful to your fish (they are) but worse, they indicate that your water also has high concentrations of other, untestable, fish waste biproducts, organics like hormones, sulfur compounds and lots more fun stuff that's really no good for your fish. NO3 is the proxy that we use to tell us how many of these other compounds are in our water, in other words, how clean our tank water is. This, of course, fails in heavily planted tanks where NO3 actually need supplementation.
Although instead of a big 80% change, I would suggest numerous smaller changes. 40-50% each. Daily or twice daily. After you get your NO3 level below 40ppm, you can fall back to 50% twice weekly. This should bring it the rest of the way down to 20ppm or lower. From there, change as frequently as necessary to maintain sub-20 NO3 levels. This should be about 50% weekly. I don't mean that you need to test NO3 every week for the rest of your career in the hobby, just until you get a feel for how often and how much you need to change water to maintain proper levels of NO3, and therefore, other pollutants.