We don’t have any confirmed word on when Bioware’s Patch 3 will hit consoles, but it’s likely to be much later than the PC patch for a variety of reasons. Consoles have a patch certification process, through which developers need to verify (and often pay) for their patches. Patches can cost upwards of tens of thousands of dollars on consoles, as well. For that reason, developers tend to roll small patches (such as patch 3) into larger patches rather than releasing them one by one. As patch 3 is a small patch (very few game-breaking bugs were fixed, if any), it will probably be rolled into a larger patch.
We will probably know later this week when patch 3 will be released for consoles, whether or not it will be released alone or combined. Bioware tends to release patches on Tuesdays, so the PC patch should be released tomorrow.