Yikes, VCESS, you might as well say six months! LOL
ladyj, this is a sizable project. I don't think that you'll be able to make the August deadline. Unless you take leave of absence and stitch all day! :) I don't think that it will be that costly because you probably already have most of the colors required in your stash.
It's cute but I'd look for something smaller. You probably have a good six weeks. Don't forget the framing usually takes about 2 weeks.
Good luck.
PS Or you could present her with it next year!