1st: Raise your Audio buffer size. If you don't need to fight huge latency problems, raise it up to 512 or maybe even 1024.
2nd: Freeze any software instrument tracks you might have in your project. This will free CPU power, for the error message you get also applies to the CPU shortage.
3rd: Mute any tracks you don't really really need to hear alongside your recording. Make sure you mute the track regions and not the channelstrip only. Also look in your preferences to switch the track mute/soloing to slow reaction time.
4th: Look at your project's sample rate: You shouldn't need to go any higher than 44.1 kHz. Especially with a Macbook. 48 kHz only for video production, and any higher is not recommendable. If you want better sound quality, use 24 bit instead of 16 bit rather than higher sample rates.
1st: Raise your Audio buffer size. If you don't need to fight huge latency problems, raise it up to 512 or maybe even 1024.
2nd: Freeze any software instrument tracks you might have in your project. This will free CPU power, for the error message you get also applies to the CPU shortage.
3rd: Mute any tracks you don't really really need to hear alongside your recording. Make sure you mute the track regions and not the channelstrip only. Also look in your preferences to switch the track mute/soloing to slow reaction time.
4th: Look at your project's sample rate: You shouldn't need to go any higher than 44.1 kHz. Especially with a Macbook. 48 kHz only for video production, and any higher is not recommendable. If you want better sound quality, use 24 bit instead of 16 bit rather than higher sample rates.