Research MBA Programs

Hello

I have a list of approximately 12 schools right now that I m interested in. I will be trimming this list to about 6-7. I had the following questions in mind:

1. How many schools should I target in any given round? (I have the GMAT on 13 Oct, so that leaves me time to get the applications in by the R1, 1 Nov deadline at some of my preferred schools. I am already working on the essays)

2. I also believe that as I submit more applications, the quality of my applications will certainly become better. I will get more crisp in my essays. Keeping this in mind, should I keep one or two top choices for R2?

Thank You