  We propose a method to generate an optical Schr\"odinger-cat-like state in a
cavity in a substantial decoherence regime. Even when the cavity decay rate is
considerably large, a cat-like state can be generated in a laser-like setting
if the gain for the field is larger than the loss. Under the condition that
opposite-phase atomic dipoles repeatedly traverse the cavity, the cavity field
converges to a squeezed vacuum state in a steady state. A
Schr\"odinger-cat-like state is then generated when a single photon decay
occurs. The phase-space distribution of the cat state can be revealed in
homodyne detection by using the decaying photon as a herald event. Quantum
trajectory simulation was used to identify the conditions for the
Schr\"odinger-cat-like state formation as well as to analyze the properties of
those states. Based on these simulations, possible experiments are proposed
within the reach of the current technology.
