Personally, I think Pitt's chances of going to a BCS bowl are somewhere in between slim and none. But in the words of Lloyd from Dumb and Dumber, "So you're saying there's a chance?"
Well, technically, yes. To start, Pitt needs to beat Cincinnati on the road. Not impossible, but certainly not a given. The Panthers also need UConn to fall at South Florida, which is not impossible. The most difficult thing Pitt needs is Rutgers to somehow beat West Virginia.
Pitt may get one or even two of those things to happen, but the likelihood of all three happening isn't very great.
But like Lloyd says, there's a chance.