I have been on metformin 3x's a day for the last month for pcos......Will this increase my chances of conceiving?

It may. It really depends on the reasons you were prescribed the metformin, but women with ovulatory infertility related to pcos, specifically with Insulin resistance, often experience more normal ovulations.
It may. Women with pcos have been shown to have Insulin resistance possibly an effect from the truncal obesity that can occur with pcos. Metformin improves the Insulin resistance, also many women with pcos have irregular periods with irregular ovulation. Many women find their periods regulate on the metfomin which indicates that they are ovulating more frequently which improves your chances of conceiving.
Possibly. Some studies show that metformin can help some of the problems with pcos. Hopefully it will help you acheive pregnancy, but if you do not get pregnant get an in depth evaluation of other causes of infertilty.