Chances of being accepted into Wharton at UPenn (or other good undergrad business schools)?

[Bernie]

You should have a good chance considering that you still have two years left to do a lot of things

However, I am assuming you are of an Asian descent (since you said you are going to take AP Chinese)
That gives you a major disadvantage if you are
Make sure your art portfolio is drawn from a good place (school drawing portfolios are not very good no offense)
I would sign up for a summer program at Wharton like http://www.wharton.upenn.edu/academics/lbw.cfm
If you get to know some of the people there, it can help when getting selected in.

But in other words, you are looking decent so far.

BTW, is 3.9 GPA weighted or not?