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So I took the LSAT in June and scored a 156 (well below what I wanted to) and took it again in Oct (scored 150, an even bigger shock).

My question is: would it be worth it to take the LSAT a third time? I'm hesitant because of the drop in my scores and because I work full time and won't have demonstrably more time to study. That said, these scores don't get me near the scores that I need to get into the schools that I want (Wake/UNC/UGA).

Alternatively, should I go ahead and apply to schools that I have a better chance of getting into (S. Carolina/Ole Miss) now, but plan to take the LSAT in Dec in hopes of improving?

Don't waste your last chance! If you can't do enough to be confident of a higher score in December, wait. You have a job, so it wouldn't be a disaster to wait a year - the legal market might even improve a little.

Best to wait a year for the chance of getting in to UNC and UGA, imo.

whats your GPA

3.45

wait to take it study/work

You should probably wait it out-- but, if you're going to wait a cycle, might as well wait until June. Full-time employment + LSAT prep can lead to major burnout, so you don't want to overload yourself these next two months or so. Better to wait a bit and then study over a longer period of time.

I highly recommend taking it a third time.

Take it from someone who did! I scored a 155, then 158 and was unhappy with my scores. I never put the proper study time into it so I decided this time I was going to do it right. I studied when I got off work for a month, then took a 2 weeks vacation right up against the test (my work was helpful in allowing me to plan this). I studied my ass off up until the test. Took the damn thing, felt TERRIBLE. BOMBED my best section, etc... Came out with a 162. PLEASANT SURPRISE and i'm in a MUCH BETTER position.

tl;dr Find a way to take time off to study, this is more important than anything else you could be doing and YOU CAN DO IT!

Well, I'm at Wake... I took it three times...

149, 159, 167.

High score was in December of application season. I ended up getting applications out pretty late.

don't give up, but if you want to do law, study your ass off man.