A friend of mine attended Georgetown Law, and he went to a private university ranked outside of the USNWR top 100 national universities for his undergraduate education. As long as you do well on your LSAT and maintain an excellent GPA, your undergraduate school will have little impact on the admissions decision. Ultimately, you should attend an undergraduate school that you think would be a good fit for you and is cost-friendly (save your money for law school). IU is a great school and it will provide you with a strong education, but again, be sure to focus on maintaining a stellar GPA and give yourself adequate time to prepare for the LSAT regardless of where you attend.
Your ACT and GPA should allow you to be directly admitted into the Hutton Honors College.