The president's job is on the line, depending on how he salvages this
project. He let the previous guy run amok for way to long, and the CEO
knows it.

Managing (people) is not one of my skills and I've not done any project management either. But I quite agree with Meerkat that getting it all sorted by Jan 1 is going to be Very Difficult. I would recommend you convince him that Starting Over is going to be the best solution. However, it rather depends on what you meant by "win/win" for the people involved other than yourself.

Wade.