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Hello,
I am planning to apply this December for the Fall 2015 school year. However, I have not finished my first draft for my personal statement, I have not requested Letters of Recommendation, and I am taking the LSAT this December. Do you think completing all these materials is doable by mid-Dec? Am I just not ready for this application cycle? I dont know how I feel about taking another year off.

You have two months until you'll get your December LSAT results. That's plenty of time to get LORs and write a personal statement.

If you score high, apply.

If you don't...

study hard, retake, and apply next year.

You can do it. There are lots of people taking the December LSAT and applying this cycle - check out the study group on here if you haven't already.

You should go ahead and request LORs. Out of courtesy, give your recommenders at least four weeks to complete them. You can probably just wait to write your PS until you are waiting to receive your LSAT score, since there won't be much to do then anyway. Focus your energy on doing well on the LSAT!