Back of the envelope, and assuming their design is the same like their board pictures posted on the kickstarter page (i.e. no PA, all RF done inside the chip):
The CC1200 puts out 14 dBm [1]. Receive Sensitivity from the datasheet at 915 MHz is -122 dBm @ 1200 baud, -110 dBm @ 50 kbps, and -97 dBm @ 500 kbps. Very good overall. (all these values are from the datasheet.)
Free space ideal path loss at 915 MHz and 1 km is -91.7 dB [2]. This gives an ideal budget of 44 dB. Toss in some antenna gain and you should have plenty to play around with for losses in the passives, connectors, antenna alignment, etc. 3 km is pushing it, with another 10 dB of path loss. So I would think 1 kilometer is easily attainable at 1200 baud with this chip.
However, things start to change with FCC compliance... 15.249 devices (a lot less limitations, including fixed frequency) can transmit at max -1 dBm. [3] So the compliant device at 50 kbps, -1 dBm, 1 km has 15 dB ideal budget, right on the edge of working. 500 kbps is probably not going to happen at 1 km except in perfect conditions.
So now you want to use hopping as a 15.247 device to get the limit up to 30 dBm/1 Watt. This chip doesn't support DSSS, so we are frequency hopping. This limits us to a channel bandwidth of 500 kHz, so you can't run at high speeds - maybe 200 kbps or so? Downside is you are spending some time hopping and waiting for PLLs to stabilize, there is a chance for interference on certain frequencies resulting in periodic dropouts until you hop to the next frequency, and the software side/hopping coordination is tons more complex. But you would be able to communicate pretty far!
Also, note that RF is very unfriendly and link budgets can easily be used up with obstacles in the way, walls, trees, not to mention pesky humans etc.
Hopefully this clarifies some things? Please let me know as well if I am off anywhere, I know a little about this but it is also late...
[1] http://www.ti.com/product/cc1200 (see datasheet)
[2] http://www.qsl.net/pa2ohh/jsffield.htm
[3] http://rfcalculator.mobi/convert-dbuv-3m.html, 15.249 allows 50 mV/m @ 3m = 93.89 dbuV/m @ 3m = -1.34 dBm EIRP.
[4] FCC 15.247 & 15.249