LMT is last military duty, which in most cases (not all) is the last class or final that the cadet has. Cadets will finish finals on different days depending on specific class final schedules (some may finish early in the week and others may not finish until Friday). There are exceptions, of course, for athletes in season and other extracurricular activities. They probably won't know their finals schedule until mid-semester.
Commandant's Training Days are days there are no classes but the cadets have military training on base. Looks like this fall's Commandant's training is before Thanksgving break (that has varied over our last 3 years at the AFA). Last fall's LMD was noon but that can change every year so you will need to wait until your cadet finds out probably mid-semester. LMD for non-class days is what is announced by the Commandant.
Usually, there are to be no flights scheduled out of COS earlier than 1.5 hours after LMD and 2 hours after LMD for flights departing from Denver.