If this is something dear for you, I think you should make the club. Even as seniors you can still found a chapter and maybe next year, or the one after new women will become interested. It doesn't matter that you won't be initiated til after 2003 since "once a phi sigma Sigma, always a Phi Sigma Sigma"
As long as you uhold our ideals and follow our vision I'm sure your club could be quite similar to our sorority (although, I know, not really the same because of lack of national support and ritual)
2003 really isn't that far away