Please review the previous questions on this same topic. This is one of the most frequently asked questions here on RP.

https://www.rallypoint.com/search?keyword=can+I+reenlist+with+an+re+3&latitude=&location=&longitude=&search_type=answers&sort_by=

If you want the definitive answer, consult AR 601-210*. It will have the RE codes and the waiver process to reenlist if you have a waiverable code.
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* https://armypubs.army.mil/epubs/DR_pubs/DR_a/ARN6642-AR_601-210-001-WEB-1.pdf

I will tell you that an RE 3 means that you have a condition that is considered disqualifying, but could be allowed with an approved wavier. The honest truth is that you will have to talk with a recruiter to have them look at the overall big picture. So much more is involved beyond just the RE code. The separations code is important as well. I was an RE 3 re-enlistment when I came back in the Army in 2016. However, it took years to get the 2 medical waivers I needed to re-enlist. My initial separation was due to a medical issues, not failing out though. It seems like you will need a moral waiver, which is honestly harder to get.

SO... best and most truthful answer is to seek out a recruiter and share your full story and DD214 with them. Best of luck to you!