The restructuring that Indy put in place last Feb / Mar has bought them time (probably about a year) for them to start making money... or else. Aug / Sept timeframe sounds safe to me, but if you have hesitations you can always wait until they release some of their quarterly info and you can see which way the trend is going... you have plenty of time to book.
Also, it ends on Aug 31 but you might consider the college student GLiDE promotion -
http://www.flyertalk.com/forum/showthread.php?t=417087 ... if you are taking the majority of your flights in August it might be well worth it even for just one month... and you could squeeze in additional summer flying at no charge.