Firstly, the chasing behaviour you are seeing is territoriality. 2 females would be better than one to split this aggression but you are right in thinking that in time they will settle down. You may want to do some re-aranging to help them out - I mean take them both out, change the position of ornaments and things and then put them back in.
Whether they will breed or not is a different matter. They might and they might not. If the pair are conditioned as if for breeding (as in you feed live/frozen, high quality foods, if the current is not too strong so the male can build a bubble nest and if the temperature and water parameters are suited to breeding, they very well may try to.
The male will build a bubble nest so you'll have plenty of time to prepair. The female will be chased under the nest (like bettas) and they will spawn. He will collect the eggs, place them in the nest and guard them. Normaly you would remove the female (in a breeding tank) at this stage as he will chase her, and any other fish, away.
In a community tank it is rarely that the bubble nest will survive. If the other fish don't get at it though, he will guard it exceptionaly well and will protect it from most intruders. In a breeding tank it is often beneficial to increase daylight hours at this stage to help him see and collect any fallen eggs. Obviously this isn't possible in a community due to the other fish's scheduale being disrupted and the result being stress.
Depending on the temperature, the eggs will hatch after a day or up to 4 days later. The fry are still unable to swim and he will continue to guard them like he did their eggs. After 1-2days however, they will become free-swimming. At this stage you would remove the male as he will only hinder the fry in finding food by trying to return them to the nest when they try to swim away and, eventualy will regard them as food. At this stage, the fry in a community will likely perish.
If some somehow make it, you still need to find a way of making it possible for them to get at tiny foods such as infusoria and then later on small live foods such as microworms or newly hatched baby brine shrimp. I preffer microworms as BBS have been known to cause swim bladder problems. Being labyrinth fish, they are very vulnerable at about a week of age when they need to start breathing air. It is essential that the air above the water is warm enough so as not to shock them so a close-fitting cover is essential and it would help if there is something like an airstone, set on low, to break the surface and make it easier for the fry to break through, into the air above.
After this the fry are relatively hardy if kept in clean water and with no predators and with adequate food. Unfortunately, you can see how this would be difficult in a community tank - not to mention the filter will probably suck them up when they become free-swimming as they are not realy capable of fighting a current.
If you ever see your male building a bubble nest however, and wish to breed the pair, put the female in a spare tank and condition the two seperately. Then lower the water level in her tank (will make building the bubblenest easier and better for the fry as less volume to search for food in and less distanse to the air) and increase the temperature to around 80 deg F. Add some floating cover and if the female looks plump with eggs and the male is in good condition, put him in with her and they should spawn. A sponge filter is ideal and an airstone (keep it off until the fry are free-swimming so as not to desturb bubblenest) will be pretty much all you need besides tiny foods, a heater and a close-fitting cover for the tank. Keeping it bare-bottomed will ensure the fry can find the food easily and the male gourami can catch fallen eggs and return them to the nest. Good lighting would also help the male catch and find the eggs and the babies find their food but it isn't essential. Floating decor need not be anything fancier than a floating margarine lid. Obviously, real plants or a plastic plant suctioned to the side are even better. Duckweed is my personal favourite for gourami breeding tanks.
Anyway, I think that just about covers that
Good luck with your fish!
The general concensus was that a female would be best, although all the male has done so far is chase her around the tank 
i'm sure they'll settle....I hope!
unless you read up big time b4 hand.
