Transistor Inverter - when does excessive small wattage become a problem?
Your requirement to simply switch 3.3V and let it draw up to 120mA for Tx=20dBm.

The circuit you have shown will not do this.

You could drive the base with 10% of IC to achieve the rated Vce(sat) with a PNP, but then you drop 3.3 by thus much so it not so good a solution to reduce the Tx power as using a power logic level PFET with an RdsOn of 0.1 Ohm

You could also use a fixed 3.3V regulator instead that has an enable signal.