I'm not a student now but I did do a uni degree a few years ago so I feel your pain. I will still wake up in a panic that I have so much work to do and so little time, then remember I finished uni ages ago :lol:
My advice is first thing to do is calm down, being in a panic will only make things a bigger problem than they actually are, so do what you have to do to calm down (within reason haha, hangovers are not going to help you).
Prioritize your time, don't cram to the determent of your other exams/essays. Set aside solid time for doing specific things, such as preparing for this exam and stick to it. When you get to the end of that time slot, switch off and move on.
When it comes to information absorption it's actually been proven (somewhere by someone) that you will retain more information and perform better by attentively reading something through once and having an early night rather than overloading your brain with multiple chunks of information and staying up late trying to compensate. Your brain will process the information alot better this way.
Relax and goodluck, I'm sure it will be fine :)