In the latest update from the National Hurricane Center, the forecast cone now shows Tropical Storm Milton becoming a Major Hurricane. This classification is reserved for category three hurricanes and above which would have wind speeds above 110 miles per hour. 

As you can see in the first image which is from Radar Omega, they show Milton being a category three hurricane just before landfall. The most likely arrival time for tropical storm force winds is Wednesday morning, I would recommend any preparations be done before then. At this time, hurricane and storm surge watches will probably be issued some time on Sunday. 

Florida Governor, Ron Desantis has issued states of emergency for the following counties: 

Brevard, Broward, Charlotte, Citrus, Collier, DeSoto, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Okeechohee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, and Volusia

I will post further updates as much as I can and as quickly as I can after they are sent out by the NHC.