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Guys, 3 months is usually Ok, but not necessarily the rule. Some people prepare in 6 weeks and score 750+ while others drag it over a year and take it 4 times before reaching their absolute maximum of 650.
It depends on your current situation. Take a diagnostic test (I'd suggest GMATprep as a good indicator of GMAT scores) and then share the data with others to estimate how long it'll take you. Generally speaking, if you get 600+, you can then study for about 3 months and improve enough to get 7XX. But if you are aiming higher or lower you may need to spend more or less time.
Buy a bottle of pepto, unplug your phone, and if you have a girlfriend chryogenically freeze her until you get the score you want.
In all seriousness it sounds like you have a plan - OG11, its supplement guides, and GMATPrep are going to be the most important pieces. Dont burn through GMATPrep too fast, but once you have taken both use them for math practice because the questions on that section generally dont repeat. Keep doing the verbal section too just for practice - take it a lot the week before the test - and you will do fine.
The Official Guide Ed. 11 is definitely worth buying. Make sure you get all three books. They're made by the people who make the GMAT, so the level of questions are most reliable. The Kaplan and Manhattan Review books are also helpful. The Manhattan Review books have glossaries and terms that are used a lot in the GMAT, so if you're unfamiliar with it, you probably want to get those books too. Good luck with your prep!