Ronald V. Dellums Memorial Fellowship for Women of Color in STEAM and National Security Act This bill requires the Department of Defense (DOD) to establish a fellowship program that provides scholarships and internships to underrepresented students who have high potential talent in STEAM (science, technology, engineering, arts, and mathematics) in exchange for those students working in the federal government or in a STEAM field upon graduation. DOD must award at least 50% of the number of fellowships under the program to students who attend historically black colleges and universities and minority-serving institutions.