Hi!
Newp - your question is not egregious, so no worries there!
Let's reverse-engineer some steps. Assuming you'd like to apply in R1, you'd have to do the following, in reverse chronological order:
* Submit applications --> Late Sep / Early Oct 2014
* Work on applications --> Early Aug - Deadline (note that most applications don't go live until early August, so there's really no point in exhausting yourself writing essays any sooner)
* Take the GMAT --> anytime before mid-August would leave you more than enough time to work on applications.
Note that you're going to have to start thinking about the stories you'd like to tell in your essays (and maybe drafting responses to the previous years' prompts) much earlier - probably around May or June 2014...
Basically, taking the GMAT at any point prior to August 2014 would put you ahead of the game. Remember that you're gonna need time to decide on target schools and such, but you will have enough time if you follow the schedule above (or anything like it).
For what it's worth, I took my GMAT in mid-March 2013, and my deadlines are about a month and a half away. I started preparing in January of this year, and I was more than comfortable taking the test on two-and-a-half months of study.
On the sleep front - my theory is that it may be worthwhile to sacrifice personal time for study time. I couldn't really reduce my output at work, as this would jeopardize my applications. Instead, I isolated myself from my friends for a bit, but it was worth it in the end (everyone understood it was for a good cause). Sleeping 6 hours may or may not have an adverse effect long-term; everyone's different, but you're the only one that can decide whether or not you're getting enough sleep.
I hope this helps. Best of luck to you!