I've usually run this in 3-4 hour con slots, and that has been quite comfortable. I often did a bit more character generation and world building than is available in the Quick Start Guide, too, so I could see a group doing it in less than 3hrs too, especially if they've played similar kinds of games before.
A bit of expansion and it could easily go over 2 session, but I like to try and get an Episode done in one :)
I hope your run goes well!