Hi Sara!
The short answer is that it is definitely possible, and keeping that enthusiasm and optimism you are displaying here will help you over the next three months.
The longer answer is that score increases are a difficult thing to generalize. No one should expect an easy time on this exam, especially if they are looking to increase their score 30 points. Although I've seen more than one student get roughly that large of an increase, your goal would be difficult for 99% of people to achieve.
Of course, your initial score has a lot to do with what you can realistically hope for. A student with an initial diagnostic score of 140 will have a much better chance of improving 20 points than someone with an initial score of 160 will. As your performance on the LSAT goes up, it tends to become increasingly difficult to get one extra point increase, since there are likely fewer "easy fixes" to learn. Fixing five mistakes on a test in which you missed 40 questions will be easier than fixing five questions on a test in which you missed 10 questions.
Your time commitment sounds great to me! I do worry that some people who set strict, ambitious schedules for themselves are prone to 'burn out' after a while. Don't be afraid to take a break from studying every month, since relaxing and letting your mind digest information will often help you.
Additionally, if you are looking to study for 40 hours per week, but have a full time job, school, or other big commitments, I would caution against setting such an ambitious plan. This test is not crammable, so make sure to give yourself time to learn concepts and practice skills instead of hoping to memorize a lot of formulas and tricks.
A lot of people find that they need more time than they initially budgeted, so don't panic if your progress falls short of what you were hoping for. You've set a big goal for yourself, so I can almost guarantee that you will struggle with living up to it at times. Remember to check back in with us during the next three months if you have any concerns!