What would you do when a chick u love very much tells u; 'lets just have a fling' for the time being. How would u feel about it and what do u think the chick is up to by telling u that. Roll in guys!

i would understand it as she doesnt want anything serious, just se*x with no strings attached and we definitely dont call ourselves bf/gf.
in my book, a fling is the polite way to say a fwb/booty call

also maybe she want to test the water, see if you got it all going on and not jump right in the relationship.
by the look of what you wrote, you may be crazy about her while she aint about you. stop whatever "love" you think you have for her until you are sure of where you are going with this gal.