As far as eating is concerned, it can be regulated only when one is practiced to take and accept prasadam, sanctified food. Lord Krishna is offered, according to the Bhagavad-gita (9.26), vegetables, flowers, fruits, grains, milk, etc. In this way, a person in Krishna consciousness becomes automatically trained not to accept food not meant for human consumption, or not in the category of goodness. As far as sleeping is concerned, a Krishna conscious person is always alert in the discharge of his duties in Krishna consciousness, and therefore any unnecessary time spent sleeping is considered a great loss.
Although we should minimize our eating and sleeping, we should not attempt this too rapidly, at the risk of becoming sick. Because people are accustomed to eating voraciously, there are prescriptions for fasting. We can reduce our sleeping and eating, but we should remain in good health for spiritual purposes. We should not attempt to reduce eating and sleeping too rapidly or artificially; when we advance we will naturally not feel pain due to the reduction of these natural bodily processes.
Since there is no question of sense gratification, there is no material leisure for a person in Krishna consciousness. And because he is regulated in all his work, speech, sleep, wakefulness and all other bodily activities, there is no material misery for him.