Lindsay Lohan -- Last Minute Plea Deal Talks

3/9/2011 9:00 PM PST

Lindsay Lohan -- Last Minute Plea Deal Talks

Lindsay Lohan's attorney Shawn Holley is trying to hammer out a plea deal -- one that reduces Lindsay's jail time --  by holding an 11th hour meeting with Judge Schwartz and Deputy D.A. Danette Meyers ... in advance of tomorrow's hearing.

Sources connected with the case tell us Holley, Meyers, and the judge met this afternoon to discuss LiLo's options -- but truth is ... she doesn't have many.

Lindsay can either a) cop a plea on the felony grand theft charge and get as little as a 3-month sentence ... or b) go to trial, face at LEAST 6 months in jail for violating probation ... and up to another 3 YEARS in prison for the grand theft.

Bottom line ... it behooves Lindsay to accept a deal that would most likely score her a reduced sentence for the probation violation AND allow her to avoid prison time for theft.

But as TMZ previously reported, Lindsay is adamantly refusing any agreement involving jail time -- and it's becoming increasingly apparent that she's in denial about the reality ... she's going to jail, like it or not.