Man, I hope an engineer didn't advise you guys to record this way...
Here's a better idea. Record guide tracks (use a POD or mic up to pc) at home to a metronome or sequencer click. Bring the guide tracks to the studio and play them through the desk to the drummers headphones so he can play a clean take of the song. Then when he's finished you can add the rest of the instruments in one at a time. This way, you can crank the tubes and you will be guaranteed not to have any timing issues AND the snare won't be buzzing from start to finish. You can also do multiple takes without the band freaking out about have to play the full song over and over. Either that, or find a better studio!
Having recorded plenty of times in studios with different bands I can say that the most important thing to get right first is the drums. You can always go back a second time to finish the guitars and do some mixing or even record the guitars elsewhere once you get high quality wav files of each drum track to take home (very important!!!).