Ok, so I've been really busy with midterms and my chemistry one is tomorrow. Now, I never intended to let so much time slip by before i started studying, but it happened. It's one of my most important exams. Do I still have a chance of passing? If so, how should I attempt to study? I'm really freaking out.

Of course you have a chance to pass. But I don't know what your grades are to date, I don't know what the prof asks, I don't know the grading scale, etc etc. I would go through my notes, update them with the text if necessary, and be ready to work each kind of problem. Good luck.