I don't think that anybody here is likely to suggest that you overstay your visa in the hope of having your status later adjusted, even if your application is pending, due to possible consequences of the overstay. You know the risks, so it's a choice you need to make for yourself. If you go home for Christmas and you're eligible, I would expect you to be able to visit the U.S. for up to 90 days using the visa waiver program.

It takes about three months for the USCIS to complete review of an I-765 application for employment authorization.