It's safe to say that close to all if not all of the U of L girls have a full and a standing two to full. Plenty of people seem to get cut every year with those skills. Louisville is consistently one of the best teams in the country, so your skills have to be the best of the best to make the team. It may not be a requirement, but realistically you'll want to be throwing consistent, clean, advanced level 5 tumbling skills, plus be able to base college level stunts (rewinds, BHS ups, inverts, flipping baskets.)
My #1 suggestion is not to go to a school for cheerleading. If you can imagine yourself LOVING the school even if you don't make the team, then that's a great place for you and cheering will just be the icing on the cake. If you want to go to Louisville just to cheer, then you should also consider other options.
All of this comes from someone who had the exact same skills as you going into college. I cheered in college, but at a school that I loved even before cheerleading became a factor. Competing was just sprinkles.