Great praise & criticisms by both Chimpa and Nutritious that I fully agreed with.
Co-signed. Verbatim repetition can be permissible in relatively limited amounts within the big picture, but it's often done at the expense of development of the arrangement. Do something different with 2:01-3:18 to offer some sort of variation, dynamic contrast, or further development, and you'd be more likely to have a shot at passing. Great concept and one I think you successfully personalized despite the conservative structure of the arrangement, but don't make the final section of such a relatively short piece an extended copy-pasta when you can offer something more substantive. Awesome stuff so far, Morgan; definitely don't give up on this one.
NO (resubmit)