Nothing wrong with a Chemistry degree, sensible move, but the obvious point you'll need to investigate is what sort of money will you earn as a chemistry graduate. I know there is a need to strike a balance between money and job interest, but realistically you will need to clear student debt and raise finance for flight training, so your degree choice will need to be based on expected income after graduation. Now, I believe there is a shortage of people studying chemistry which does suggest salaries for Chemistry graduates have the potential to be good. However alot of "lab research" jobs I have seen advertised tend to have quite low salaries.
As for Aero Engineering, the current shortage in my own technical field means the current contract rates are good, but I found prior to my contracting days working as a permanent staff engineer the pay was quite average.
Ironically it was after finishing pilot training I became a contractor and consequently doubled my income (along with four fold increase in debt), however in the Aero industry I have found that contracting is the only way of getting decent pay, downside is the lack of job security.
However the recent appearance of low cost aerospace design / stress offices in India is posing a possible threat to the long term future of the design and analysis industry in this country. The engineering side can be as boom and bust as the flying side, so a second career outside the aviation industry has some advatages.