Uhhh, Chiplee, you are seriously misinformed. I have been flying in the airlines for 2 1/2 years and still do not have an ATP. An ATP is required to be a Captain for an airliner, not a First Officer. So yes, you can get hired with just your commercial and instrument licenses. Minimums are quite competitive, however, my company (ACA) has "bridge" programs with some of the aeronatical programs where you can be hired with 600 hours total, 100 hours multi-engine. I suggest you go to each of the airline websites (Comair, ASA, ACA, etc) and check on each individual airline. The jump from a regional can take from a few years if the timing is good to never if it stays the way it is - the airline industry is not only in a down cycle but in the midst of a revolutionary change. The major carriers are getting killed by the new Low Cost Carriers (SouthWest, Jet Blue, Air Tran, etc). If you want more info, I suggest you try www.flightinfo.com for any information on the airlines.
As for the military route to the airlines, it used to be the only way. It still has its benefits - especially the connections - but remember that if you select out of primary during a helo draft (nothing you can do about that) you are basically hosed for the airlines.
That being said, the airlines can be quite boring. Also, concentrate on your college studies and have a backup plan - one only needs to look and see the 10,000+ pilots furloughed now. And if your company goes under, you have to start at the bottom somewhere else do to the seniority system.
Good Luck with whatever you choose.
PS: We have a 24 year old CRJ captain at my company. I think he skipped college to concentrate on flying and hit the timing just right, getting into our company young and then being able to upgrade to captain when both his seniority allowed it and he was old enough to get his ATP at age 23. Funny thing is, he landed the jet and then we went out on the town but I had to rent the car because he wasn't old enough for the rental companies!