We also live in a hot climate, and we've sheet mulched at various times of the year with no trouble related to what season it may have been. As Catie said, the best time is basically a few months before planting -- we sheet mulched some hastily prepared beds this spring and planted them immediately, and while we had no problems with germination and (overly) lush growth, the plants have struggled w/ fruiting and ripening in those beds, and my guess is because there was no time for it all to chill out and breakdown and for microbes to do the microbe dance (<---not quite science). We were prepared for that possibility though, so no problem. Plenty to
compost, and some things worked out, like squash and cowpeas.
We're planning to sheet mulch a good sized piece of the yard this month though in preparation for planting in September, and we always water it in right after we're done layering everything, but then we'll probably only water it a bit every once in a while after that until we plant.
S