My teacher suggested playing the 1st 3 of 4 accompanying quavers on the left hand at the same tempo as before. This means the 4th quaver will sound longer with more notes from the right hand passage falling under it. This sounds more natural than having the 4 quavers of equal length but significantly slower than the previous bars.
In terms of practising the passage, I like to do a fair bit of slow playing blind-folded. This forces me to listen carefully to make sure the passage is smooth and has shape. It also helps releasing tension. Once I can play the passage comfortably this way, I gradually speed up.
Alternate this with fast practice of chunks. Start with small chunks, 3 or 4 notes, when it sounds good, gradually add more notes, then practise each octave, only the part of the ascending passage, then descending passage, and so on.