If you haven't cut in the past and you have enough time to practice, it might be a good idea to do a test cut so you can know if it impacts your performance. It's no fun trying to bench with a calf that is cramping due to dehydration.
I've weighed in 1.5 lbs over with a 2 hour weigh in and managed to cut that weight with sweat and spit, but it was miserable. Unless you're going for a record, Nationals qualification, or something where you have to make that weight, I'd advise against trying to move down a class if you weigh in heavy at the initial weighing.
I've had minimal problems dropping 3-8 lbs with a two hour weigh in, by dropping carbs, increasing water, salt manipulation, and dropping water for the 12-18 hours prior to the weigh in. I'm in a lower weight class than you, but probably have more fat to hold the water.