The root of your misunderstanding is this: light is not a point particle, and it is not emitted or absorbed instantaneously.
A basic principle of waves is that it takes a non-zero amount of time for one wave cycle to complete. As a result, the wave-front starts travelling towards the receiver before the wave-tail (for lack of a better word) has even been generated. You can see this just by dipping your hand in a body of water - the crest immediately starts travelling out away from your hand as soon as you begin to plunge your hand, before you have even completed the hand-plunge, and well before you have actually finished withdrawing your hand again which finalises the trough of the full wave cycle.
The Doppler principle is that, when the emitter is moving, the front of the wave is emitted in a different place to the tail (or back-end) of the wave. Therefore, you're no longer measuring from a fixed emission point to a fixed reception point - you're measuring an emission that began in one place and finished in another, relative to a fixed reception point.
The faster the emitter moves, the larger this discrepancy becomes between the place where the wave-front began and the place where the wave-tail is finalised.
The constant speed of light relates to the speed of the wave-front, not to the speed of transmission and reception of the full cycle. Under redshift, the latter speed does in fact slow down - under blueshift, it speeds up.