Re-drafting requires a deal of courage and dedication. It's often hard enough writing a first draft. The idea that you might have to rewrite your entire book from scratch probably doesn't scintillate you. But there are some good points about re-drafting that you might want to consider, before you dry your eyeballs out editing for the next eight months.
1. Sometimes it's faster to re-draft than to edit for a long period of time.
2. Some problems are easier fixed by a rewrite than by an edit.
3. A rewrite is often easier than the original write, because you've already thought through what you're doing with the story (hopefully).
4. With every rewrite, your writing style improves.
5. Writing will always be more fun than editing.
Before you baulk at the idea of rewriting your book, take a look at some of the positives, and remember: if your editing is resulting in loads of rewriting anyway, you may as well just do the book over. If you don't want to redraft the entire thing, a "patchwork rewrite" is always an option. I've occasionally done edits where I pick about eight scenes that I'm happy with from the original draft and then copy and paste them into the new draft when I get there.
I once read an editing book which talked about an author who rewrote his novel twenty-three times over. I doubt it will be that rough for you. I rewrote my first book five times over. But that was the first time. Since then, three has normally been the maximum. For you, it might only be two. But it will always be worth it.
A good author will give much for the sake of a good story.