I recently ran this in the morning after 4 hours of sleep for players with a similar sleep deficit. The players were all new to B/X, about half new to rpgs. I made the finale happen after 2 locations due to time constraints, it took us about 2.5h.
While I would suggest being awake to run this, the adventure made it very easy to run it without any preparation (like reading the adventure). It includes plenty of guidance and material to control the pace.
We only used the included pregenerated "replacement" characters, which have very good flavor and include all relevant information. I gave my players coloring pencils, to great (and somewhat psychedelic) effect.
I really want to run this again at some point with my brain in working order.