If I were you, I'd plan to re-take it because there is no way you can get into a Medical School with lower than a C in a pre-req course. Plus, in order to have credit for it for medical school from your university you probably need either a C- or C so you'll need to re-take it anyway. If you re-take and get an A and then take a higher level Chem course you'd probably be able to prove yourself as capable.
MD schools will average your 2 grades for the class together and DO schools will only count your most recent.
Not to mention one F can kill your overall and BCPM GPA...seriously.