Hello.
In Bahasa you can say "apa yang sedang kamu pikirkan?" but that's very formal. If you want to say it informal, you can also say "lagi mikirin apa?" you can put "kamu" before "lagi" if you want but usually I don't. It's up to you. And to answer it formally, you can say "aku sedang memikirkan liburanku" you can use "saya" or "aku". But maybe it's just me, I would use one of them in one sentence. Meaning if I use "aku" then I will say "liburanku". And if I use "saya" I will say "liburan saya". It's okay for both of them. But I don't really like to mix them in one sentence. Hopefully my answer will help you.