have you read the out of memory error section of the faq and tried to increase the ram?
http://processing.org/faq/bugs.html#memory

also, a unicode font is going to be enormous as bitmaps in ram. the basic calculation would be:
(next power of 2 above width/height)^2 x 4 bytes per pixel x up to 64k characters.

so it could need up to 256 MB of ram just to create that font in a worst case scenario:
32 x 32 x 4 bytes x 65536 chars = 256 MB
(if my quick calculations are correct).

we'll be adding something in the future so you can select specific charsets that you want.