No, of course its not too late. It seems that, aside from clerkships and some gov't jobs, the only people that really HAVE to apply/interview for winter break are those that want to work at home or outside the city/area where they go to school. I'm in school in Atlanta, and the vast majority of firms/attys don't even want my resume until I have grades for them to look at (which will hopefully be next week). All OCI, school job postings, and firms I've called or written want me to hold off until I can send at least a partial transcript. I've been told by hiring coordinators that the usual practice is to pile up resumes until late Jan/early Feb and start looking through them once they have transcrips.
Is applying early a good idea? Yes. Are you screwed if you start now? No, probably not.