Advice on applying in R3

Not enough info to tell. Round three is a crapshoot because there are not many seats left and you are not only competing against applicants in R3 but also with everyone that has been sitting on the waitlist since the fall. In order to win a coveted R3 seat, you must really fit a niche that the adcoms are seeking for that particular class. Being female is an advantage in R3, because by then, most schools know their gender stats and are looking to boost female attendance. Your GMAT will not help, since it wouldn't come in above average, but on the other hand, it may not hinder you either, since the average is well padded by now with all the other applicants. In other words, one more score below the average will not pull the overall average down enough for them to dismiss your application out of hand. Having said that, it could be a problem if you are compared with another female consultant with leadership--what is going to make them choose you over them? This is how you need to approach the application. R3 is where having something interesting in your background is a really good thing--something that can be additive to the class, something maybe they haven't seen. If your profile appears run of the mill, they will simply pluck someone else off the waitlist that looks better.

With 10 years consulting experience, have you considered an EMBA? Easier to get accepted and you don't have to quit your day job.