Hi Derek,
You do not need an advance degree to do patent prosecution, you only need to pass the patent exam. Keep in mind you will be competing against people with advance degrees, but with enough patience, networking and perserverance, you can find a job, it may not be your ideal job, but it will eventually lead to your ideal job. If you want to do patent litigation, copyright, licensing or trademark work, (all of which fall under the umbrella of intellectual property law), you have to have a Juris Doctorate.
I work in the patent department for a medium size biotech company. The department has 2 patent agents, (one with a PhD, the other with a BA - that's me), and four patent attorneys, (one with an engineering degree, two with BS degrees and one with a PhD). All the attorneys here previously worked in law firms for at least 3 years, but left before becoming partners at their respective firms. Talking with the attorneys here, the general trend for law firms is if you have a PhD, you tend to do patent prosecution, if you have a Bachelors, you tend to do patent litigation. The in-house attorneys I work with do everything from prosecution to litigation to licensing.
Keep in mind that in-house generally does not pay as much as a law firm, (trade off for better hours), if you are willing to take a small paycut, or accept matching pay, you have a great chance of being hired over someone with outstanding credentials that would demand too high of a salary.
Also, there are other ways of getting into patent prosecution with out going through a law firm. My co-worker, the patent agent with a PhD, was recruited and trained by the patent department for the University where he was working as a researcher. Other people have transitioned from patent liason or technology analyst positions.
Seeing as you have a chemistry degree, are you currently working? If you are, does your company have a patent department? If they do, have you started networking with the attorneys?