I don't think it'll be very effective tbh. (Properly) insulating the rafters creates what is known as a 'warm roof' but unless you do it properly, it's a waste of time (and money).
If you already have chipboard down you could lift it and lay 50mm rigid kingspan/xtratherm etc. at right angles to the joists and then relay your chipboard on it. It's not 'handy' but it'll work and work well.
Whatever happens you need to allow ventilation between the underside of the roof (the felt) and anything you insulate with ans you should allow cross-ventilation (ie, a flow of air from the fascia through the attic to the other fascia). if you don't ventilate you risk dry rot.
If you don't mind spending an extra few quid you could leave your chipboard down and lay the rigid insulation on top of it, then re-sheet with new chipboard.