What are my chances of getting into medical school with one W?

Adcomms aren’t going to care about one W so long as you are enrolled as a full time student. (i.e 15-16 credits/semester or 12 credits/quarter) after you drop the class.

Dropping below full time enrollment status may have other repercussions–like affecting your FA or y9ur ability to remain in the dorms.

This is alarming–and bad sign if you intend to pursue med school. Please get yourself to your college’s counseling center and get some in help learning how to manage your anxiety. Med school is a very fraught experience and if ochem is stressing you this severely, I guarantee med school will break you mentally & emotionally.