Well, let's say the Panthers manage to acquire control of some small piece of territory outside the USA, like those neo-nazis tried to do with Dominica in the early 80s, and make it into a Communist state.
Yeah, they may very well try to establish a cult-of-personality. My guess would be, depsite the maoist orientation of some of the Panther leadership, they'd be more likely to take their cue from Castro in Cuba. Not sure what sort of cult he had(besides assuming everyone wanted to listen to his long-winded speeches), but the Panther cult might end up looking something like his.
I'm not well-versed enough to know who the main idols of the cult would be. Huey Newton?