What's the saying? You're always 3 flights away from washing out? Hook a check ride, 88 ride, 89 ride, and you're done?
Some opinions, all worth what you pay for them.
The anxiety and stress is real, and it's something you have to overcome. Pilot training is an interesting animal, and people arrive there from different paths.
One one extreme, you have people who arrive at UPT somewhat ambivalent about being a pilot. They're fresh out of ROTC from Random State School, and flying sounded like "something cool to do."
Others have made pilot training a lifelong goal, and fought tooth and nail at every step of the way just to get there. Waivers for whatever, many failed applications via various avenues (active duty, guard, etc).
People fall somewhere in between these extremes, but it sounds like you're much closer to the latter bucket. All that work and pain to get to UPT is a double-edged sword though. Clearly you want it and are ambitious, but it also means that you're putting all of that weight on you every time you go fly. It's a lot of pressure, pressure that the student fresh out of school may not have to deal with. I know the solution is to "brush aside all of the anxiety," etc, but that's obviously much easier said than done. I don't know the solution here, but the first step is to recognize the source of the anxiety.
You also kind of have to come to terms with the fact you gave it your best shot, and let the chips fall where they may. Some things are meant to be, others aren't. Maybe you pass this hurdle, graduate UPT, and get hit by a bus. Or some random medical thing pops up. Some might say "God's plan" and all that, but I think it's more accurate to say "it's just life." Some times things work out the way you want, sometimes they don't.
If a commander recommends reinstatement, I believe they can also provide some limited additional rides as well. As in, you're back in, and you get 2-3 additional rides to get to where you need to be. Not sure how the holidays work, I believe there is some history of all students getting an additional ride after coming back from break, or something to that effect?
Either way, give the CR your best shot. Don't know how your wing does it, but in the past I've seen the CC ask that you write a memo or something that outlines your case. Lay your cards out there, and see where it goes. Hopefully your IPs give you some guidance in that regard.
Hope for the best, and see where it goes. If you don't get the outcome you want, go out and do something else with your life with the knowledge you took the shot and it didn't work out. Let that part of your life be something to grow off of, not something to hang onto in bitterness.
Related, this thread got me thinking about all the folks I've known who didn't complete pilot training. I'm not very well traveled or well connected by any means, but this is just after bouncing around the Air Force and civilian service for a couple decades. I reflect on this list, and think about the people who held onto their bitterness for a long time, and others who just kinda moved on. You get to choose how you let it effect you (like many things in life).
A Lt who was doing well through IFF, had to punch out of a T-38 and got bad back injuries. Can't remember if he was going to be permanently DQ'd from flying, or medically retired from the service. It was bad. Fought tooth and nail to be allowed back in, and was allowed to proceed as a non-ejection seat pilot.
One ROTC instructor (Maj) who was washed out of pilot training and had a sob story about it. Was on a T-37 solo flight, and did intentional stalls on his own. Didn't think it was a problem to do stalls solo, his IPs disagreed. Was reclassed into a non-rated field. Went through some long process to "get his record changed," or something to that effect, with no success. Probably all for the good, because the guy was kind of an idiot.
Another ROTC instructor (Maj) who washed out and was told he had three choices on his next career field: Nav, Nav, and Nav. Seemed to go on to do good things, but was a bit cringe-y in how he seemed to still have not come to terms with it.
One co-worker who washed out, but still had a T-37 hanging from his office ceiling. He seemed to look back on his time fondly.
Another co-worker who SIE'd early on after putting "pilot" on his ROTC dream sheet as a lark, more or less.
One O-6 Air Base Wing CC who was respected, well liked, and seemed to be good at his job. At his retirement ceremony when he talked about his career, he briefly mentioned that he "Started his career with six months in pilot training. Unfortunately, pilot training is a 12 month course." He smiled and moved on with his speech.
Along with all the guys I knew who fought for the chance to go, got close, but never got there for one reason or another:
One guy who came in to the Air Force non-rated, and applied for board after board, and didn't get anywhere. He was crushed at not being able to fly, and even more crushed at being stuck in a support role.
One old timer who was all lined up to go to pilot training with a waiver for being slightly over the age limit. Vietnam drawdown happens, waiver rescinded, and he was out of luck.
Anyway, good luck OP. Thanks for providing the opportunity for an old man to neglect his day job and reflect a bit.