Remember Arkansas hasn't played LSU or Bama yet they could end up with 2 more losses. I doubt a 3rd team from the SEC gets a BCS bid. Georgia will lose in the Championship game anyway making them a 3 loss team.
Arkansas has played Bama and got killed. The SEC regular season ends this weekend, so Arkansas cannot lose twice more. They will likely lose to LSU and fall well out of contention. This is the same Arkansas team that should have lost to Vandy 2 weeks ago, and now they find themselves 3rd in the BCS. Arkansas is good, but they are not as good as their current ranking.