I would do research and defer graduation for a year. As a reapplicant your app will still get flagged (unless they dont find out but I am sure most places will somehow find out) but you generally will look better as a medical student at the time of your application. Regardless, it will be a trying experience; if you know you love ortho, give it your best effort, learn from and try to correct some mistakes you might have made.
Best of luck!!