Feb LSAT, LORs, and When to Apply Forum

[mpohl]

I have a couple questions regarding applications. First I'll give some background:

Undergrad School: Massachusetts Institute of Technology
GPA: ~3.80/4 lsac
Degree: Aerospace Engineering
Goal Law School: UT Austin (want to work in Texas)

I'm graduating this semester (a semester early) as I took a heavy course load to save tuition money (MIT charges per semester, not per credit hour) which caused me to get some B's that lowered my GPA. I also was pretty heavily involved in campus activities, some service, etc. In that respect I feel strong for my applications.

Now my LSAT score is another story. I took it in June and got a 159. Because of MIT's intensive course load and weird schedule (school ends ~May 25th) I only had ~1.5 weeks to cram for the LSAT. I was consistently between 165-170 on timed practice tests but I must have just overloaded and messed up when it came test day. Needless to say I have to take the LSAT again, because a 159 won't get me into UT Austin. I can't take it in October simply because it's impossible to study for the test and maintain my grades with my workload. This leaves me with a few questions:

1) Should I strive to apply this cycle and take the LSAT in February? Because I'll be graduated, I can take a LSAT course starting in December to really make sure I'm prepared for February. Some people say applying late lowers chances of admission, so I'm unsure. I really really would like to apply this cycle, and I know I can do better on the LSAT.

2) If I get LORs now, are they good for later application cycles?

3) If I get denied somewhere this year, does that hurt me if I apply again next year?

I appreciate your guys' insight.

[GBPbb]

1) Don't apply, retake in Feb or June and apply next cycle. It is absolutely the smart thing to do.
2) Yes
3) Irrelevant, because you aren't applying this cycle But, no, it doesn't.