Im not an expert or anything, but i had a 2.5 gpa after my first quarter in college. I had a C in intro gen chem. I got into med school a last month and have a few more interviews lined up. I had to bust my ass after that quarter though.
After my first semester in college my overall GPA was 1.88 (several D's). I started to go down the depression road ("I'll never be able to do what I wanted to do with my life"). Yet I put the past behind me and dedicated myself to achieving what I wanted and I currently have two acceptances to allopathic medical schools for the c/o 2013.
My advice to you is to not give up hope -- if you really want an MD, it's by no means out of your reach. Just try to focus on the future and your potential instead of the past.
Just develop better study habits so that you can get all A's in the rest of your undergraduate studies. Don't be discourage you will be fine. Shoot for something like a between 3.5 and 4.0 so that you can be competitive when you do apply for med school. As time passes medical schools become more competitive.