Two things I noticed directly from the start launching this one up:
First of all, Air Warfare is way more important. I would aim for ~3000 planes, all fighters + CAS, since you gotta go fast as germany, there's no way around it.
Second: There's a good reason for first doing FR before going after the big one. The industry you get from low lands + france and the possibility to extract ressources you need from vichy and the other puppets are massively worth it and you get to align the other European countries into the axis, in effect broadening the Frontline, which is in that state of the game actually making Stalin weaker, because he needs to spread his forces out.
Regarding the current state of the game you got two options. The first I'd recommend is going on Total Mobilization, put them women in the work force and then try to raid the other partys for stability, as long as you have two 2 PP ministers in power, to get going. Since you decided to go for the Soviet First, we need to go through it...
I have deleted the two Armys you had in the back, created a new template with just inf to fill in the gaps you got, then I decided to massively focus on Art/Supp Equip to fill the gaps. I'd recommne for the moment to remove the two artys from the line since it's just too many cannons which you can not produce at that moment.
Before going for the next offensive I suggest strongly you get Air Superiority. The Jägernotprogramm decision is a good one to shoot down these nasty planes the soviets have. Once these are taken care of and you consolidated the ground force I'd go at them again. Since this will be along war I also suggest going for the Desperate Defense thing in your doctrine to unlock additional manpower to secure that you have enough manpower and enough production to go through with it.
I'm not realy sure if you can turn it around though. I'll give it a try.
Fuck the Italians, don't let them in the faction, once they DoW Greece or anything else guaranteed by the Allies they'll fuck the game for you because Italy will get smacked by UK and then probably invaded too, giving you another front to take care of. Or even worse, they could be pulling the Americans.