Is it possible to clear the CLAT in 5 months if I am aiming to end up in NALSAR, considering that I'm a dropper and gave the CLAT last year with a score of 73.25?

Yes, It is possible to do so. If you prepare thoroughly over the next five months, you would easily get admission at NALSAR. 

• Concentrate on the areas of your preparation where you are making mistakes. Take a test series from any reputable CLAT coaching institution. 
• You can attempt several mock tests throughout your preparation journey to ensure that you ace the examination with an extremely good score.
• Also, don’t be anxious because of the score you achieved last year. You can do better in your next attempt at the examination. CLAT paper is different for every year.
• Ensure to complete the current affairs sections as soon as possible. 
• Do practice Mathematics and questions related to Laws for a better result. Many aspirants make a mistake that has become very common nowadays and that is to not prepare those sections in which they are good during the last moments. 

Consistency is what would help you achieve a good score in the exam. Always maintain a balance among the areas of your strengths and weaknesses.