Yes (at least here in Michigan). You would be hard pressed to convince any Judge I know of in this State that driving as fast as you did, so much faster than the speed limit, was anything but reckless. Here you would undoubtedly be charged with reckless driving in addition to the speeding violation. You need to hire a local attorney to represent you, without question, as I cannot give you a better answer than this because I do not practice in California.
Yes, you certainly can be arrested for such actions and there is even a good possibility that you can be found guilty of a misdemeanor and go to jail for such actions. If you have been arrested for reckless driving, call me.
Here is reckless driving law in California.
23103. (a) A person who drives a vehicle upon a highway in willful or wanton disregard for the safety of persons or property is guilty of reckless driving.
(b) A person who drives a vehicle in an offstreet parking facility, as defined in subdivision (c) of Section 12500, in willful or wanton disregard for the safety of persons or property is guilty of reckless driving.
(c) Persons convicted of the offense of reckless driving shall be punished by imprisonment in a county jail for not less than five days nor more than 90 days or by a fine of not less than one hundred forty-five dollars ($145) nor more than one thousand dollars ($1,000), or by both that fine and imprisonment, except as provided in Section 23104 or 23105.
California Vehicle Code Section 22348 makes it an infraction to speed on a highway in excess of 100 mph punishable as follows:
First Offense: $500 fine plus penalty assessment AND the court may suspend the person's drivers license for a period of 30 days.
If this is what you were cited for then I would advise you to hire an experienced Los Angeles criminal defense lawyer to help you. You will have a better chance of avoiding a license suspension with a lawyer than without.
You definitely need an attorney in this situation. The other California attorneys are correct in their repsonses. This is a serious matter and can have far reaching consequences for your license, insurance and future.