The Chandrasekhar limit is the most mass that the degenerate core of of a star can have before it undergoes a supernova (1.4 solar masses).
The Schwarzschild radius is the point of no return of a black hole... from which even light cannot escape.
I feel I should point out that a mass of three solar masses is the mass that the core of a star must have to collapse into a black hole, but larger and smaller black holes exist. It will drop out of the equation anyway, since you've stipulated that this is at the Schwazschild radius.
The equation is:
Rs=2GM/(c^2)
substituting this in for b in the earlier equation, we get:
alpha = (4*G*M*c^2)/(2*G*M*c^2) = 4/2 = 2
This result doesn't make sense to me.... after some checking, I found that there is a stipulation (not provided in the page to which I linked

) that the gravitational lensing equation as given is only valid where b>>Rs. I'm not sure what the breakdown is, but I assume it has something to do with the factor of 2 that was only explained as a consequence of relativity.
I'll keep looking, but since even my astrophysics textbook relied on this simplification, I don't think that I will find anything.