foundation year and reapply next year

I currently have two levels of B in economics and B in business, can I complete another alevel during foundation year and apply to uni for 2026? I will ask for predicted grades of ABB and apply for 5 new courses using 2 grades that I already obtain and one new alevel. Is this possible? Thank you

You can do, technically. But why would you bother to do the Foundation year at the same time?

My parents want me to go university, and so do I but I want another chance so I decided to retake one of my alevels and apply again

That's a very expensive 'want' - have you told them how much it will cost you in debt?
And what are the terms of your Foundation Year - will it get you onto a course you want to do anyway?
Bottom line, it's a silly, expensive plan, but technically you could do it and it might work out.