I've tried allocating 2GB of ram to minecraft in the JVM arguments area on the launcher, but in game it still shows i only have 1024MB allocated. Every now and then, I'll end up using all of that and start running at 0fps, so it's unplayable
I think you may have -Xmx1024M or -Xmx1G in the _JAVA_OPTIONS variable in your environment settings, To remedy this,
Uninstall Razer Synapse / Cortex if you have it
Press the Windows key and the Pause/Break key simultaneously
A window should popup, click on "Advanced system settings"
Click on "Environment Variables"
Delete the _JAVA_OPTIONS entry.
Make sure you have Java 64-bit installed.
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