I was able to find success with this function from BP Redirect to Profile (see GitHub repository):
Plugin Name: BP Redirect to Profile for Buddypress
Description:Redirect user to their profile when they login
Requires at least: BuddyPress 1.1
Tested up to: BuddyPress 1.2+wpmu 2.9.1
License: GNU General Public License 2.0 (GPL) http://www.gnu.org/licenses/gpl.html
Author: Brajesh Singh
Author URI: http://buddydev.com
Last updated:16th feb 2010
Copyright (C) 2009 Brajesh Singh(buddydev.com)
This program is free software; you can redistribute it and/or modify it under the terms of the GNU General Public License as published by the Free Software Foundation; either version 3 of the License, or any later version.
This program is distributed in the hope that it will be useful, but WITHOUT ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the GNU General Public License for more details.
You should have received a copy of the GNU General Public License along with this program; if not, see <http://www.gnu.org/licenses>.
/*Add a filter to filter the redirect url for login*/
/*if no redirect was specified,let us think ,user wants to be in wp-dashboard*/
/*if the user is not site admin,redirect to his/her profile*/
return $redirect_to_calculated; /*if site admin or not logged in,do not do anything much*/