I've also been hit with this problem since the upgrade to Yosemite.
It drops every 15 mins or so but interestingly I only lose WAN (internet) access and not LAN access. The Wifi itself remains active since the LAN connectivity is still up but internet access is down for around 30 seconds each time. Some other people (including posters on Mac Rumors) have noticed the exact same problem (WAN drops but LAN connectivity remains).
It's not the router because I've tried 4 different routers and the exact same problem occurs with the same frequency.
I also have a Windows 8 PC on the same network which doesn't suffer dropouts.
Here are something of the things I have tried.. ALL without success so far!
1) Disabling Bluetooth
2) Switching to 2.4 from 5Ghz
3) Setting IPv6 TCP/IP to local-link only
4) Using a different router (see above)
5) Running Wifi in Diagnostics mode
6) Changing channel settings for 5GHz mode
7) Removing all the stored Wifi profiles and adding back new ones with a different name.
AFAIK, this is all the solutions offered so far and yet none of them make the slightest difference in my case. They don't even alter the frequency of the dropouts. Meanwhile, my Windows PC chugs along happily without any network issues, just like my MBA did when it ran Mavericks.
So it seems clear to me that this points to a definite issue with Yosemite. The killer for me is that when the dropout occurs Skype calls bomb out also. Since my livelihood partially depends on using Skype then I'm currently forced into the ridiculous kludge of using a patch cable between my MBA and the router every time I make a Skype call.