Is that an exact quote? I understand that you cannot recover a deleted blog, but I really don't think you would then be banned from creating a new one at a later date or banned from participating on the forums.
Another option would be just not to update your blog - it will automatically be deleted in 6 weeks. I know that people have done so and then have continued to post and were able to recreat a new blog later.
My Etsy shop (currently closed for the summer)
I found a thread that explains this problem - You can continue to use the forums and create new blogs in the future. The warning really should refer to your blog title rather than 3fatchicks.com, but the glitch is due to a default setting. Here's the thread that explains it: