The phrasing on the admissions website
suggests that 3 years of a foreign language is recommended but not required.
I personally would go with the schedule you prefer. Everything else being equal, it seems extremely unlikely that your admission decision would hinge on this one class. But I understand that you might be nervous. Why don't you email the admissions office and get their input?
For what it's worth, I took my sophomore year easy. My only academic classes were English, math and physics. My other classes were accounting, computer graphics, psychology, parenting and PE. Bryn Mawr accepted me anyway.