I think it might go something like this:
Part One: the buildup to the contest. Kaladin and Szeth do not get along.
Part Two: The days before, of, and after the contest. Everyone is screwed. Rlain, Adolin, or Renarin are in quite a bit of death danger here.
Part Three: Fallout of the contest, Kaladin and Szeth are forced to put aside their disagreements and work together to help people. The end of this is likely to have the darkest moment.
Part Four: Counterstrike after the contest. The eleventh hour, in a way. If the darkest moment isn't at the end of Part Three, it'll be here.
Part Five: Sanderlanche. No explanation needed.