I'd say go for it, but be sure to drop right away if you think it will be too difficult. I tried to take Calc I over the summer once and it was just moving way too fast. But, I took physics during the summer and did just fine.
Don't worry too much about it being at a CC, I did all of my pre-reqs at my CC before I transferred (though adcom's don't see that as the best way of doing it) and I got in just fine. Be sure that if you need Ochem for your degree to graduate, that your school will accept it for your degree. Some universitites won't accept core sciences from CC's if you're already a student at the university. But other's do only for the summer, it depends, so ask.