I think that whatever you do, you should keep pursuing your dreams.
I think I would suggest that if the college that admitted you isn't one that you actually wanted to go to, give it a miss. College isn't going anywhere, you can always go to college some other time, there is no reason why you MUST go to college now. One option is to wait a year, or just a term or semester, and then re-apply to the colleges that you wanted to go to. In the meantime, make sure you are doing things that improve your chances of getting in to the college you really want, get more acting experience or training to put on your resume, improve your auditioning skills, etc.
It's your life, not your parents'. It sounds as though your dreams have more to do with "screen" than "stage" (because you mention "the camera" in your original post), so sooner or later you are going to have to move to a city with a screen industry (movies or TV). Los Angeles is a good choice. Your plan to go to a conservatory in Los Angeles seems workable to me. Again, you can always go to college later if you change your mind. While your in Los Angeles, you may as well get yourself an agent (of course if your conservatory allows that).
Today in the 21st century, there are many many people who are very succesful without college degrees, quite a few of them in the entertainment industry. There is no reason why you MUST go to college just because your parents say so.