Kungs bogey-free score saw her 36-hole total move to 13-under-par 203.
She is two shots removed from Californias Elizabeth Bowman (66), while overnight leader Miriam Nagl shot a 73 on Day 3 to fall into solo third-place at 9-under.
Meanwhile, tour money leader Beth Bauer of Tampa, Fla. shot a third-round 73 to fall slightly back at 5-under with four other players.
Leader Kung recently turned professional, and although she has played in only three events this year, the 20-year-old recorded a tie for third at the Barona Creek Womens Golf Classic in March.
This weeks event in Lakeland marks the last of 21 events for the 2001 season on the Futures Tour.
The year began in early March with the Pacific Bell Futures Classic, and this weeks event boasts a total purse of $75,000, $10,500 of which will go to the eventual champion.
Click Here for Second Round Wrap from the SBC Futures Tour Championship
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