There were student-athletes in every sorority and fraternity chapter on campus.
We can't know exactly how it will work out for you. That's for you and the chapter to work out. Keep in mind that there are parts of the "aspirant-to-new member process" that you ideally should not (some of which you absolutely cannot) miss. Hopefully you all will figure out with your schedule--it will most likely involve not having any free time outside of class, athletics, and the fraternity. You may be exhausted. But, it's worth the commitment.