No I don’t think you need to take AP Spanish. Top schools want to see 3 or 4 years of foreign language though. If you want engineering, I don’t think you need to take APUSH.
I’m not seeing any Ivies being top ranked for your potential major though so not sure why those are the goal.
You need to have an honest conversation with your parents about budget. You can only borrow $5500 your first year. Anything beyond that you are expecting your parents to pay. Even if you think your parents are high income earners, that does not account for their actual living expenses.
UWi-Madison is highly ranked for chem e major. However, as an out of state resident you would have to pay 56k/yr (not including books, extra expenses, and travel fees). That means they have an extra $5k/month just sitting around not being used for anything.