You're at a slight disadvantage but i'm guessing since you don't have the required classes finished, you will take them during the spring semester and apply during Fall 2014 for the Fall 2015-2016 school year?
Since you are an English major, I am assuming you will score VERY high on the verbal section of the GMAT. The GMAT scores weigh Verbal/English over Quantative so I think u can easily cross the 650+ mark and maybe even hit 700. In addition, its easier to improve your quant skills than it to improve verbal (general consensus)
The summer intensive program covers 5 semester classes in 8 weeks. They do each class one by one, so Int A first, then Int B, then aud, then tax, then advanced (therefore each class is like a semester's worth of material in a week)
I would probably take this route - take the classes in the spring, spend some time making your application the MOST competitive it can be within the next year and then apply. Get some accounting experience and build an amazing story you can use for your personal statement. Because from what I've seen USC only gives you one shot to get in, and they make each year you apply after you get denied, much harder to be accepted (it works the same way in medical schools). You can apply every year, HOWEVER, one of the essay questions asks something like "If you have applied within the last two years, please explain how you are now more qualified to enter this program." I've talked to some admissions people and they said its really hard to get in after they deny you the preceding year. I am assuming you are only 22-23. You are young and you have time to build. Take your time with the application, don't rush it, and keep exploring other career opportunities before settling into accounting.