I've been negotiating an overtime claim settlement with my employer but it's been dragging on for over a month now. I've made a final settlement offer to them. Whats a fair and reasonable amount of time to wait for a response before I move ahead with an attorney?

If you're in negotiation for a settlement agreement, you should have an attorney NOW. You can bet your employer has one. This is not a DIY situation.

I'm definitely heading in that direction very soon since I'm sick of stressing over this. It's extremely distracting when still trying to work at the company. Thanks for your input Patty.

You don't want to either draft or agree to anything in a legally binding way without a lawyer's assistance. You are past the point of needing a lawyer. I'd suggest hiring one asap.