Assuming you want clinchers, it's tricky but possible. I did it a few years ago, but I shopped carefully for the hubs. They were Record hubs laced to Velocity Aerohead & Aerohead OCR rims, 24f 28r Revolution spokes laced 2 cross. 1490g and I spent around $400.
The hubs are the key to getting below that 1500g mark, and lighter hubs cost a lot more. Here's what I came up with off the top of my head.
Novatec hubs off ebay $118
Kinlin XR-300 rims $120
DT Revolution spokes front and NDS, Competition for the DS $50
Alloy nipples front and NDS, brass for the DS
That would be about 1550g and cost about $300 (assuming you're doing the labor yourself). Unless you're heavy, that should make for a decent wheelset for you. If you happen to weigh under 125-ish, you could even use Velocity Aerohead & Aerohead OCR to drop the weight under 1500g.