Toggling graphics for high intensity situations
I think if you have the map fullscreened, it won't draw the game environment around your ship. However, I couldn't confirm/deny that in a few minute's googling, but that did turn up this page, which lists keyboard shortcuts for a few things.
To my knowledge, there is no hotkey to swap between the two.
The closest thing to a solution I can come up with is making two different launcher profiles for your account, and swap over when you want to. Certainly not as easy as a hotkey, but might be faster or at least less tedious.