So I have a package on the way being shipped through UPS. The scheduled delivery date is tomorrow 12/02/2014 but I recently tracked it and it says that it arrived at Oak Creek WI at 12:14 PM. I live about 40 minutes away from Oak Creek. Is there a possibility that it may come today?

No. The delivery trucks leave in the mornings with their daily deliveries and they don't come back and reload. It will say out for delivery on the day you will get it.

I doubt it. UPS packages are typically loaded on trucks in the early morning. Your route truck is likely somewhere on its route with the package still at the terminal. I wouldnt make any plans to see your package until tomorrow.

I have found that if UPS says dec 2, it will be dec 2.

yes