I had to make a similar decision at one time (military would have paid for part of law or all of medicine) but I decided to stick with flying (I was already down that road a ways).
Given my experience I would say the safe course is the paid law degree and fly on the side, earning ratings up through CFI. That can be your hobby, and you should have time for it after first-year law (assuming you don't have a wife, house, and three kids to occupy all your time).
In ten years airlines should be hiring a lot for attrition, although you'll miss out on some seniority movement between now and then. So if you can build hours as a CFI on the side, you could still be ready to make the jump at age 36 or even sooner if you decide to just get-er-dun.
But please get a PPL and instrument rating before you decide on a flying career. It's a different game than buzzing around VFR.