The same thing is happening to me with almost the exact same error. I did not re-install windows, the game just stopped working correctly one day and decided it would do exactly what you have described. I have tried re-installing the launcher and java, but I kept my world information so that when i installed the launcher I could just stick it into the save files so that I didn't have to start all over again. I'm not sure what's causing the problem, but I'm beginning to wonder if it has to do with the world that I am playing on. Maybe it is corrupt or something.