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Haha, most welcome! 
And... that's a difficult question to answer.   (；￣Д￣) 

The thing is... I'm currently working on something else... but don't shoot me! Let me explain!  (￣^￣)ゞ

After I published episode 2  on 15th November, I wanted to cook a very small game for IGMC. (10-20 minutes long.) 
When I started writing the story for this 'very small' game, I realized that I didn't know how to write for it... (it took me DAYS to realize this!) 

And so! I did an online course on how to write short stories, and THEN I was FINALLY able to complete my story.  (I've titled it: 'False Rebirth'.)
After that, some other 'unexpected' work came up, and I couldn't work on my IGMC project...  (╥_╥)

Now I've decided that I'm going to finish working on 'False Rebirth'. And THEN I'll start working on 'False Awakening Episode 3'.

I expect False Rebirth will take me around 10-20 days to finish.
And False Awakening Episode 3 will take me around 30 days to complete. 

Starting January, I might get busy with 'life', so it could take a while until I complete episode 3.  (╯︵╰) 

TLDR; Episode 3 is going to... take a while.  (￢_￢;) 

~ On a brighter note, I'm SUPER HAPPY that you're eager to play episode 3! (You're the first person who has asked about it. So I'm ALL excited to work on it now! Thank you so much!)