Michelle Yeoh, definitely. I liked Angelina Jolie in Mr. & Mrs. Smith, but I don’t think she’s done anything else memorable. (Of course, I haven’t seen Salt.)
Lucy Lawless would be good, but she hasn’t done much outside of Xena that’s actiony.
If you measure by box office, there’s probably an objective answer (although that favors the most recent releases, since ticket prices are much higher every few years).
Geena Davis took a crack at being an action star for a while, but only got two real “action” roles before apparently giving up: Cutthroat Island and The Long Kiss Goodnight.
Keira Knightley has enough to qualify, between the Pirates of the Caribbean movies, plus King Arthur and Domino. Hard to take such a waifish little stick-figure seriously as an action star, though.
It’s a shame I can’t come up with a good third movie for Linda Hamilton, beyond her two Terminator films.
If you do a poll, better put Devon Aoki in there. Sin City, DOA, War, and more to come, I’m sure. And Lucy Liu and Cameron Diaz as well; they both have the two Charlie’s Angels movies, plus a couple others each.
You could technically include Rebecca Romijn, for playing Mystique in three X-Men movies. Did a lot of ass-kickin’, and did it bare-ass naked, too.
I know it feels like she was in a dozen movies just like it, but Ultraviolet is the only one set in a dystopian future where she goes up against an evil corporation.
If Geena Davis had done a third action movie, I’ve vote for her. She had the makings of a great action hero in “The Long Kiss Goodnight” - a film that wasn’t all that great, but her role in it was classic action hero.