Relationship advice

Soooo i really need advice:

Me and my SO have been dating for YEARS .....he hasn’t always been the best boyfriend but he’s an awesome father. A few months ago he got into a little bit of trouble so he’s away right now. I told him he has one more chance to get it together or I’m done. Would you all wait for someone if you really loved someone? Like there aren’t enough words to describe how much i truly love him, but if he can’t do right this time I’m completely done. Although I’m nervous about starting over, I think this may be a sad reality i may have to face. What would you do in this instance? Any advice is welcome. Thank you