From the look of the leaves I'd say it is dogwood. The variety I'm not sure of. Where do you live? It should make good arrows.
You can probably get it dry enough in a few months but a year or more would be better. Don't scrape the bark right off the bat, give them a month or so or leave it on until you are ready to make arrows.
When you go to cut it bring along a 3/8" open wrench to measure the shafts at the bottom. Also, if the shoot has leaves directly attached to them leave them until next year. You want shoots with small branches on them and not just leaves attached.