Let me make one very important point right away - I tabbed this piece to suit my personal style and preference. There is no "correct" way to play this. Use the tab as a guide. If something doesn't suit you, then explore other ways to translate the piece onto the fretboard.
As you explore this exercise, you will soon see that there are recurring patterns, which will make the exercise length seem less daunting. At first, you may want to focus on these patterns before tackling the whole piece. For instance, practice just the first first four bars initially, and ease your way into the rest of the exercise over the course of a few days.
Play the exercise using strict alternate picking, except in places where you are moving across 3 strings consecutively, in which case a sweeped downstroke may be the best way to go. And even though it will be more difficult, I suggest playing this on an acoustic guitar or on a clean amp setting with your electric.
To save storage space, I recorded just a fast audio clip at 165 BPM. However, what you really want to be doing is playing along to the MIDI. Download a MIDI player that allows you to adjust the tempo. A search on google should turn something up. Then adjust the tempo to match your ability.
Good luck, and be patient with this exercise. You will appreciate the payoff!