Before you start your all night study marathon, take the time to figure out exactly what you need to accomplish, and when. Draw out an hour-by-hour schedule. Remember, you only have limited time, so make sure you make a schedule that allows you to accomplish everything--or at least as much as possible. This is especially important if you have multiple tasks to accomplish, like studying for two different exams.
Because you have time limitations, you may need to cut corners and skip tasks that aren't as important as others. For example, you may decide to not study chapters 6-10 because you don't have time, and instead focus on the more important material in chapters 1-5. Take the time to prioritize your studies. Also, it's a good idea to study the most important things early in the evening and the less important things later, in case you run out of stamina and fall asleep.
While planning your all nighter, be sure to schedule in some study breaks. These will need to be short, but be sure to schedule in at least a five-minute break for every hour. Breaks are necessary to clear your mind and relax just a bit, because otherwise the night is going to be an endless chore.