This is a generic "I couldn't keep up with what you were asking me to do" error message from Logic.
You'll need to provide some information about your system, OS version, RAM, audio interface, your audio driver buffer settings and anything else, together with what you were doing when getting the error, what the CPU and disk meter's were registering, otherwise you're not going to get much help.
Without providing this info, it's like saying "My car won't start. Tell me the solution".
A. Get a faster har drive. preferably an external FireWire one. <7200 RPM speed.
B. Stop recording on your internal (system) drive. And then look at step A, above.
C. Render your heavily edited tracks into one new long audio file per track, thus eliminating the need for the system to be "looking" for bits all over the place. then look at step A, above.