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The correct chronological order of conferring Bharat Ratna to the given individuals is 3-1-2-4.
Option 1: 1-2-3-4 - This option is not correct as it does not follow the correct chronological order.
Option 2: 3-1-2-4 - This option is the correct answer as it follows the correct chronological order. Dr. A. P. J. Abdul Kalam was conferred with the Bharat Ratna first, followed by M.S. Subbalakshmi. Professor Amartya Sen was conferred with the Bharat Ratna after M.S. Subbalakshmi, and Sushri Lata Dinanath Mangeshkar was conferred with the Bharat Ratna last.
Option 3: 2-1-4-3 - This option is not correct as it does not follow the correct chronological order.
Option 4: 4-3-1-2 - This option is not correct as it does not follow the correct chronological order.
Therefore, the correct answer is Option 2: 3-1-2-4.