I doubt it will be able to beat Titanic because that movie just stayed in forever. like 258 days or something? (can't remember, but it was well over 2/3 of a year) To beat Titanic, Avatar will have to put up $800million more dollars. The following scenarios show how difficult this will be: (note that Avatar is currently averaging ~$58million/day worldwide)
Avatar will pass Titanic in:
13 days (January 17, 2010) @ $58 million/day or $406 million/week (the current rate; obviously this is unrealistic)
20 days (January 23, 2010) @ $40 million/day or $280 million/week (extremely unlikely)
27 days (January 30, 2010) @ $30 million/day or $210 million/week (imho this is the most optimistic scenario with a realistic possibility of occurring, but still unlikely)
32 days (February 4, 2010) @ $25 million/day or $175 million/week (not likely but possible)
40 days (February 13, 2010) @ 20 million/day or $140 million/week (maybe, but not very likely)
53 days (February 26, 2010) @ 15 million/day or $105 million/week (maybe)
80 days (March 25, 2010) @ 10 million/day or $80 million/week (definitely doable)
so actually, it might be able to pull it off after all.... we shall have to see how sales are affected by schoolkids going back to school this week to find out for sure though. Also, if you want to see the most successful films of all time by ticket sales, I recommend http://www.boxofficemojo.com/alltime/adjusted.htm or http://en.wikipedia.org/wiki/List_of_highest-grossing_films_in_the_United_States_and_Canada though sadly both are only for the US and Canada
EDIT
Also, even given the price of tickets today, $1 billion is massive. Even at $12 dollars a ticket, Avatar would still have sold 84,800,000+ tickets worldwide. That's pretty impressive for any film ever, regardless of how much the tickets cost.
Not trying to be a fanboy. Of course, it's hard when you own the best console eve... dang it