All in all, it will be extremely wet in the near future and the first alarm of the rollercoaster will probably already bring considerable amounts of fresh snow above 2000m. At medium altitudes between 1300 and 1600m, melting and replenishment could balance each other out until the first week of January. Below that, it will probably be less overall.
Alert period and area
Until Saturday in the late evening, and from the Arlberg to the Hautes Alpes. Further east, it will scrape along just at or above the alert limit of 30cm.
Wind
The massive, westerly flow is somewhere between gale force and almost hurricane force. So it will be very, very uncomfortable at the top. Due to the strong current, however, it will push full alarm amounts up to or just over the main ridge in France and deep into Valais.
Snowfall limit
If I could get it right in the Alps, I'd be really good. But I'm not, so there's bound to be something wrong somewhere.
Let's start with the easy stuff in the northwest, the French Prealps and the Northern Alps: It's cold at the moment but the precipitation is coming with a massive warm front and so it will gradually rise unprotected to 2000 or even 2200m in the southwest by the end of Friday night. After all, the greatest warmth will come in dry on New Year's Eve.
This will take longer in Valais, but as it will reach zero degrees over the passes, the Rhone Valley will not be able to hold the cold, so it will rain here too. It could work in the Goms, but it will be really warm - so I'm skeptical.
It will also be a tight squeeze in the Aosta Valley or Pelvoux Massif. Especially as it's so windy. Maybe it will stay snowy above 1400-1600m, but I wouldn't bet on it and then it will be damp and more glop™ than powder in the trees. Here, however, at least a large part will still come as snow before it gets warm.
Snow is only certain in the high Alps and the full amounts only come from 2100-2300m.