Yes. He will have a higher chance of being in MK8.
No. This does not affect his chance of being in MK8.
Maybe. I will post below with my thoughts.
Still the best Mario characters ever.
I don't really care if he's in or not, but he has a chance. People say that the babies are a waste of slots (it kinda is) and that better characters should replace them. The only reason they were in MKWii is to fill the lightweight roster faster.
If they're going to put the babies in MK8, Nintendo is planning to have a big roster. So Funky Kong might have a chance, considering they're going for a big roster, but its not 50/50.
I wouldn't mind him not being in MK8, it's a Mario game afterall, not a DK one.
Donkey Kong was added because of his relation with Mario in the arcade games and Diddy was added in Double Dash as the needed parter for DK. I think that should be enough Donkey Kong characters. Also Funky never played such a important role in DK games like Diddy or Dixie anyway.
Defitenly no extra chance. If he's coming ack to a dk game, he won't go to mk8! he may, though.
..And him being in MKWii only increases his chances of return.
I don't think we'll see him again this time. Personally I hope Diddy is replaced with Dixie this go as the medium Kong too, that way girls have more female characters to choose from and Dixie gets some much needed attention. If not having both Diddy and Dixie works.