My opinion on this (which admittedly means nothing) is that it would be incredibly foolish to repeat a year of med school. But let me start at the beginning...
1. If you attend a med school, even briefly, you have to check the box on the AMCAS application. They will thoroughly check out your background with AAMC and find out your situation. You cannot apply to another school as a non-transfer unless you truly are a non-transfer (or med school dropout or flunkee)...no exceptions.
2. So...you apply as a transfer student. Some schools do accept transfer students. Others do not, while still others say they will consider accepting transfers but in fact never actually admit a transfer. You'd need to find out which category pritzer fits into.
3. Most schools that do accept transfers will only accept transfers into the M3 year (after your second year), with an applicant success rate of ~50% to these particular schools. The success rate for a M2/after first year is much much lower (though I do know someone who managed it).
4. Schools accepting transfers want a legitimate reason for the med student to be transferring. Simply wanting to attend a different school is not good enough. Such reasons include marriage/family/pregnancy/hardship, etc. The premise is that you want to be a doctor, and that if you are not willing to attend the school that accepts you (assuming only one school accepts you), you must not be too serious about becoming a doctor if you're willing to turn down an opportunity to do so. All US med schools are good schools and train doctors well.
5. If the curriculum between the two schools does not match up, your chance of acceptance goes down significantly.
6. OK, assuming you've crossed all these hurdles no problem and get accepted to pritzker as a M2. Good for you!
Alternate 6. Let's say you have to repeat your M1 year...a)why are you willing to add debt on? b) first year is not that fun...I'd want to move on, not do an instant repeat of a year's worth of material c)if you are willing to repeat the med1 year again, why not just wait another year and re-apply to pritzker and save yourself a year's work and money? d) residency programs will probably look at your two med schools, with a repeat of first year included, and wonder what was going on, why you were so eager to do that, and what pritzker thought was wrong with your original M1 year's education. This could really work against you...for instance, why would a residency program choose you when there may be a chance you'll want to transfer out of their program to another program you liked better? They may think you'd try to go elsewhere and thus you could end up unmatched. Granted, this is a bit extreme, but it could very well happen.
I'm not trying to be negative, but I am trying to be realistic...your plan is not very feasible. Talk to a med school admissions office or an advisor for more info.
