Hey man, I feel your pain! I had the same thing happen to me right in the middle of my internship. Everything was going smoothly, but my IV stats plummeted and my preceptor got so frustrated with me that he finally gave me the ultimatum that I had one shift to get back on my horse or he was going to flunk me out. Boy was I freaked!
I did a little thinking and relaxing, and realized that most of my problem stemmed from the fact that my preceptor was breathing down my neck and getting me spun up. He also had been giving me "tips" on things to do to make it "easier" for me to get a good stick. Needless to say, the more I changed my technique to suit him, the worse I got, which combined with my preceptors ever-present glare made me a nervous wreck and made me screw it up every time.
When I went back, I told him three things: First, I wasn't going to let him fail me, because I wasn't going to screw up again. Second, that I was going to go back to starting IVs "my way" and forget all his helpful little tips. And finally, that on my next few IVs I wanted him and his partner to either not watch me or just step out for a moment while I got the IV in place. Lo and behold, when the pressure was off and I wasn't being scrutinized I started nailing every IV again. By the time I finished my stats were back up where they belonged and my preceptor was again happy.
Just remember, it's all in you head and it's an easy skill. I also learned to just keep talking to the patient the whole time too, to take some of my focus off of the IV and let my hands do the work for me. Too much focus can make you too hesitant!