I read, keep in mind that I said read, that they look at trends, final GPA and total GPA from all colleges and schools. For example, I had a very rough 1st semester at my community college (1.7GPA. Didnt attend 1 class due to major disagreement with the teacher), but I should pass this semester with a 3.7 or higher GPA. Once transferring to the university in the fall of this year, I plan on maintaining a 3.6-3.7 GPA through my entire final 3 years. If I get higher, then I am happy. If I get lower, I will try to figure out a way to improve on it.
But I agree with BlkPny, just apply with the mentality that you will be accepted and you will be a pilot. Also, what is your final GPA? I really do not think that 1 or two bad semesters will really hurt you. Sometimes you just have a bad semester and you cannot help it (stress, job, money, death in the family, anything).