With that plan you'll overwork yourself in some areas, and underwork in others.
The rule of lifting weight is that if you do high reps with a lower weight, you'll gain size, if you do extream weight with few reps, you'll increase your ability to use the size you allready have.
By working nothing but chest and arms your going to run the risk of injuring your under developed back, shoulders, and legs. you grow use to the power you gain on one side, then when you need to do a movement which requires both, you pull something, or worse tear something. its not a good plan. You should work out a bit more proportionatly. say, 3 days a week, one for chest and shoulders, one for back and bicept, one for leg and tri. try and keep chest and tri as far apart as possible as alot of chest exercizes use the tricep as well.
beleive me, you dont need to train a muscle group more than once per week. when i was 17, me and a friend of mine went to the gym every day after school. we gained at the same rate for about 3 months, then he started taking creitine (i cant spell :P ) and protien shakes and such. he kept going every day. i cut back to 2 or 3 times per week, and we had the same results still. differance is i had 2 or 3 extra hours per week to go have fun as opposed to exhasting myself. Muscles take time to recover, and 2 or 3 days isnt enough. you need at least a week.