Yes, you can still get into a T2 or 3, maybe even a non-elite T1. It really comes down to your LSAT performance and where you want to live. A high LSAT can overcome a low GPA/GPA problems. Lets say that your LSAC GPA ends up as you predict, around 3.55. With and LSAT of, say, 158 or above you'd have a good shot at plenty of T3s and T2s. With an LSAT of 160-165 you'd have a shot at some T1s.
Your specific grade trend and the fact that you failed some classes will matter the most at schools for which your numbers are borderline. In other words, if you apply to a school whose median GPA/LSAT profile is 3.5/162, you may have atough time. For that school, your numbers would be pretty average and most of the other applicants probably don't have any Fs or Ws. If, however, you apply to a school whose profile is 3.3/155, and you have a 3.55/162, I think you're in good shape. Schools desperately want to increase their GPA/LSAT profiles in order to appease the gods at USNWR. I think that a significantly higher GPA and LSAT would overcome Ws and Fs at many T3s and 2s.
If you rock the LSAT, say 170 or above, you've got a shot at some T1s. You'll have to explain your scholastic problems on your applications. Don't make lame excuses, but use the opportunity to play up your dramatic improvement. I had an average/mediocre GPA and several years between undergrad and law school. I studied like crazy, got a very good LSAT score, and still managed to obtain a 75% scholarship to my top choice. In my experience, an LSAT score which is significantly above a given school's average can work wonders.