If you are ready to restart your full-time professional career (and applying to b-school suggests that you're ready now - because the hours you maintain in b-school is similar to a full-time job), then should focus on getting back into the workforce now and working a few years. You're not really doing yourself any good by going back to school with such a long layoff from your last job. Of course, getting a job now isn't exactly easy, but trying to get a job after b-school (and a 5 year layoff) isn't going to be any easier either. Right now, any adcom will have concerns about whether you're genuinely willing and prepared to go back to working full-time -- they can only take your word for it, and that may not be enough.
There's really no easy answers for this, as with most issues dealing with balancing between child rearing and a full-on, business career. But getting back into the workforce is probably your better bet.
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