James Gunn is keeping Guardians of the Galaxy 2 cosmic as he mentioned the sequel will not feature earth-based characters.
Gunn attended the recent Dragon Con where he stated Ms. Marvel Carol Danvers will not be in Guardians of the Galaxy 2 (via Collider). Gunn did mention tha the thinks the character will eventually appear in the Marvel Cinematic Universe.
Gunn stated that he wanted to steer clear of “earthlings” in his side of the Marvel universe, allowing Peter Quill (Chris Pratt) to be the main focus from Earth. While he agreed that more than likely, Carol Danvers would appear sooner rather than later in the Marvel movies, there were plenty of other women in the comic book roster of the Guardians of the Galaxy and he was more than excited to begin introducing them into future films. The plan, according to Gunn, is to introduce new female characters into the world of Guardians as soon as he could.
As noted, there are other female characters that can be used; two that come to mind are Moondragon and Mantis.
Some other interesting tidbits Gunn mentions about Guardians of the Galaxy is that Disney made him cut the original Stan Lee cameo, which was having Stan Lee be a part of The Collector's collection. Groot would walk by, with Stan Lee giving Groot the bird.
Gunn also mentioned that Yondu wasn't originally a part of the script, but when they had some issues with the third act, Gunn came up with the idea to use Yondu as Star-Lord's mentor. It was also considered at one time to have Yondu as Star-Lord's father.
Regarding why Yondu looked different than the comic book version, Gunn said he incorporated ideas from the Marvel Comics "Ultimate" line which took the characters and put a modern spin on them. In previous interviews, Gunn also stated - when questioned about Yondu missing the fin - that fans should keep in mind Yondu in the Guardians of the Galaxy movie is older (meaning maybe Yondu had the fin at one time).
It was also stated that James Gunn is deep in the writing process for the sequel.