Dance, as a performance activity, is associated with various problems. Among these challenges, sleep disturbances are notably prevalent. This study aimed to explore the potential relationship between sleep characteristics—specifically chronotype and subjective sleep quality—and psychological inflexibility in dance students. This research adopted a cross-sectional design using non-probabilistic sampling. One hundred and fourteen dance students, with a mean age of 23.87 years, participated in the study. Assessment tools included the Acceptance and Action Questionnaire-II, Pittsburgh Sleep Quality Index, and the Composite Scale of Morningness. The results revealed no gender differences in psychological inflexibility or chronotype, although women report poorer sleep quality. Differences emerged in both subjective sleep quality and chronotype when students were grouped according to low, medium, or high levels of psychological inflexibility. Those with low inflexibility, as opposed to those with high inflexibility, report better sleep quality, with no differences observed between medium and high inflexibility groups. Students with high-medium levels of psychological inflexibility showed a higher risk (OR = 6.373 times higher) of experiencing poor sleep quality compared to those with low psychological inflexibility. In terms of chronotype, the low inflexibility group is inclined to be more of a morning type than the medium and high inflexibility groups, with no differences between the latter two groups. Students categorized as having low inflexibility tend to have a longer history of dancing under the guidance of a teacher and dedicate more hours and days per week to rehearsal. The findings are discussed in terms of their educational implications for dance students.