If you look at the graph, (5-3.3)V*1A=1.7W is still out of spec, and (5-1.2)V*0.3A=1.14W is only ok if the cooling pad is large enough. (Note that the graph assumes 2oz copper.)
Unfortunately for the 1117s the tab isn't GND, so you can't use the GND copper pour as heatsink.