From the full interview with Chad Smith on MusicRadar.com, posted today:
And what about Chickenfoot? After you do the Chili Peppers, are you going to do another record?
“Absolutely! We’re having so much fun and it’s gone so well – there’s no reason not to continue with Chickenfoot. That’s something I want to make very clear: Chickenfoot isn’t a one-off thing for any of us. We’re a band.
“I would imagine during my time with the Peppers that Joe will probably do another solo record, and maybe Sammy and Mike will do something on their own. But as soon as I’m done with the Chili Peppers, I’m diving right back into Chickenfoot. We’re going to outdo this record, too. That’s the plan and I’m sticking to it.”