She's a young and very smart woman.

Literal

She [topic-は] young [and-て], very head [of-の] good woman is.

若くて connects two qualities using the te-form of the い-adjective: young and (also) smart. 頭のよい (smart, literally 'head-good') modifies 女性 as an attributive clause. This is the relative clause form of 頭がいい — the が switches to の when modifying a noun directly. とても (very) intensifies the intelligence.