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I'm planning on applying to law school for spring '13 and graduating this December. However, I recently was thinking to just take 2 classes this semester and finish the other 2 during the Spring and graduate then (2013) (in order to focus more on the October LSAT). I've always been full time at my University. Does having 2 part-time semesters look bad to law schools?

No. Even if it had any significance, it would still be less significant than a single LSAT point. Since you're willing to stretch out your UG, your idea sounds legit to me.

nope. assuming you do well both semesters.