Setting Rds(Ron) for PMOS for LDO
Assume L=0.6u, Imax=150mA

W/L  =  2*Idmax/un*Cox(Vdsat)^2 

W/0.6u= 2*(150mA)/34u*(220m)^2

W/0.6u = 182304.32

W = 109.38mm

rds= Vdrop/Imax = 220m/150m = 1.46Ω (Total resistance to be offered) 


Add the above calculated W,L,Kp in model card and simulate, Check the drop out and add the remaining resistance by subtracting it with total resistance.