Android and Chrome are both Google products. I don't see why the wouldn't, but I have not heard of any plans to build a Chrome mobile browser yet.
I don't see it happening anytime soon. Chrome is a memory intensive web-browser that introduces secure browsing through isolated processes for each tab - also, Chrome has a very noted UI scheme (toolbars, tabs are low profile leaving more room for page-content).
Note the Chrome OS is around the corner.... Google has admitted that is is very possible that over time the Android OS and Chrome OS may converge into one.
For now... know they both use Web-Kit to layout the HTML... and Web-Kit is great layout engine (Safari uses that too).