1. Get the grades up as high as you can. Everyone I know that had a 3.8+ GPA got tons of interviews even if they didn't have tons of extracurricular activities.
2. Join every professional organization. Try to get a national leadership position in a major pharmacy organization: ASHP, APhA ACCP, etc. Go to as many pharmacy conferences as you can afford: APhA, ASHP Midyear, ACCP, etc.
3. Get involved in student leadership positions. Being a class president or a committee director is good. Follower positions aren't as important, in fact they won't count much for residency.
4. If you want to do a local residency, you can always try to get involved in the state hospital pharmacy association. Usually the residency directors are all members and heavily involved in that kind of organization.
5. Hook up with a faculty member and get involved in some type of research project as soon as you can. Poster presentations, publications, and research experience count for a lot when applying for residency.
6. Try to find a hospital internship, paid is always better. If you can't get a paid hospital internship, offer to volunteer. Some of the local hospitals took volunteer interns for the whole summer (40+ hour weeks).
7. Get involved in all of your school competitions: counseling, clinical skills, etc. If you win these competitions, you often get free registration to the national conferences.
8. Organize outreach events: community vaccinations, diabetes, osteoporosis, HTN, etc. Don't waste your time being a follower. Make sure to set up these events yourself.
9. Apply for as many scholarships as you can. If you have followed all the recommendations above, then you will have no problem getting a couple scholarships.
10. If you can't keep the grades at a 3.5+, still follow all the above recommendations. Grades do matter, but involvement matters more. I know of a girl with a 2.6 GPA who matched into residency last year, she had to apply all of the country but she got into the system.
11. Stay motivated. If this isn't really what you want to do you will be burned out by the time you hit P4 year. If it is really what you want to do then passion will shine through and you will be an inspiration to all of you classmates.
12. Residencies are getting ridiculously competitive, especially in California where I am. We are seeing 300 people apply for 2 residency spots at some institutions. Be flexible with geography and you will have no problem matching. There are plenty of rural residencies where only 15 or 20 people apply, and most of those people only plan on going there as a last resort.