I'd say it's possible, but need to at least know two things - 1). recent time for your last 5k/10k/HM, and 2) how long are your long runs now?
Reasoning:
1). You need to be just plain capable of running the speed needed to hit your time goal, and middle distance races are a pretty decent predictor. Plug in 3:15 into a time predictor (
http://www.runnersworld.com/...race-times-predictor), and you get a 20:20 5K, 42:23 10K, 1:33:32 HM. Are you close or under these numbers recently? (you can subtract :15/mile from a tri run leg to get a good idea of open run pace).
2). Long runs give you two main adaptions - using more fat as fuel, and structural changes (tissues get resistance to fatigue from the pounding to run long). We've can generally get about 90 minutes of race pace running on stored carbohydrate. Then you hit the wall around 2 hours and fall apart if you haven't put in the training with long runs. Repeated long runs over 2 hours depletes the stored carbohydrate and forces the body to burn fat, getting better at it at so that you can preserve and those carbs just a bit longer. Shorter runs (under 90 min) don't cause that adaptation to the same degree. You say you've got 8 weeks, but you're last long run is generally 2 weeks before the race. So you've got 6 weeks to get from wherever you are now to a 2:30 long run, about 18 miles. With a weekly long run, you could do 14, 14, 16, 16, 18, 18 miles over the next 6 weeks. Are you close to that distance now? Rushing the long distance buildup increases the risk of injury given the weight bearing nature of running (vs. say biking).
I'm on roughly the same schedule, but one more sprint tri in 2 weeks so I do 2 runs, 2 bike, 1 swim per week. One run is intervals, the other is long. After the sprint, I'll drop the swim and one bike and add another run. That'll be 3 runs/week - a long run, a medium marathon pace run, and another easy run with a pickup at the end to maintain speed work. Shooting for 3:10, 5/10K race times predict under that and long runs at 2 hours now.