As an undocumented or "out of status" applicant, you are still eligible for Temporary Protected Status. TPS is granted to applicants that are either undocumented or have expired visas.
TPS approval is not a grant of amnesty for prior immigration offenses, but it does offer protection from deportation during the TPS period and the right the work in the United States.
During the period that you are approved for TPS, your period of unlawful presence in the U.S. will be stopped. That means that the time spent in the United States while a TPS beneficiary will be considered lawful for the purposes of adjusting status and avoiding inadmissibility problems.