3D Flight Path

So me and my friends are doing a project in a competition called Cansat. Basically you make a satellite the size of a can that falls a few hundred feet, and it has to take measurements in the way down. If has to take temperature, air pressure and a third measurement of our choosing. The satellite must use Arduino.
We want to make a 3D flight path so you can see how the satellite fell on its way down. It can either be sent back wirelessly or it can be saved on an SD card so we can look at the flight path later.
If anyone can please give me help on how to approach this. It would also work for the Arduino to take coordinates and altitude every second so we can put these into a point mapper later.

GPS is your only option. The antenna on the GPS module must have a clear view of the sky.

What you describe is no satellite. A satellite orbits a planet or other celestial body. Also, a GPS is largely useless if you don't expect the can to drift more than 10 meters during the fall. An IMU solution might be more fitting. Or perhaps another solution that incorporates a supplemental ground based sensor (i.e. camera).