I'll be honest, I used Valium. It is definitely not for everyone. I am not recommending drugs, but I will share some information because I feel that I used drugs successfully in this situation.
First, make sure you have a prescription from a doctor, be honest with that doctor, and use the drugs exactly as prescribed. Do not use a larger dose, for instance.
Second, make sure you "test drive" the drug and dosage maybe three or four times before the real test. I even took an AAMC practice test on Valium - and scored my highest score to date. You don't want to feel weird or have new side effects on test day, that is worse than nothing.
Third, carefully consider what drug to use. I used Valium mainly because I have used it on rare occasions for about 7 years. Mostly airplane flights. I also chose Valium because it kicks in faster than most other benzodiazepines. Some people might prefer propranolol (Inderal), which is a beta blocker. Propranolol is entirely non-sedating and will not mess with your memory. Propranolol is very popular for performance anxiety, especially among classical musicians. Some studies have found that over half of classical musicians use propranolol.
Propranolol has more physical side effects than Valium, but Valium can potentially have more cognitive side effects. Propranolol can cause low blood pressure, which can make you dizzy. Propranolol is more likely to cause nausea, but it is not that likely.
Valium essentially never causes nausea or diarrhea. In fact, Valium causes less nausea than placebo. Valium inhibits anxiety-induced nausea.
However, Valium can in theory impair memory. I have not personally noticed this. Like I said, I got my highest AAMC practice score on Valium.
Valium can definitely make you sleepy, but that just means the dose is too high. Test drive the dose three or four times before test day. You will find a dose that substantially reduces anxiety but does not cause drowsiness.
I also recommend: Meditation and positive self-talk. These have no side effects and are totally safe.
For meditation, I close my eyes, breathe deeply, relax as many muscles as possible, and try to clear my head.
For positive self-talk, I just repeat phrases to myself in my head such as, "This is not a catastrophe, I will be fine." Positive self-talk is part of cognitive behavioral therapy for anxiety (depending on whom you ask), and it is supported by double-blind studies. Make the phrases short and maximally soothing. I wouldn't say "I can retake it later", even though it is true, because the thought of retaking the MCAT is not soothing. I would just say "I will be fine". I will be. I'm not having a heart attack, I am just freaking out about a silly test. I will be fine.