The upcoming Titanium SDK 3.0.0 includes a new Node.js-based command line interface for building your applications, which means now in order to build the SDK from source, you will need to have Node.js installed.
1. Install Node.js from http://nodejs.org.
2. You can now proceed with building the same as before.
Please let us know if you run into any issues with the change and we’ll be happy to assist.