Hey there,
Kple12 has got a good point here. If you study for the next 2 months and improve your score 20 points, it won't have offset the detriment in your application quality. So yes, if you can retake it and score a 740 or higher, go for it. But if you can't (be honest with yourself here), then focus on your apps. A 710 puts you in play. I know you're worried about it but here's a fairly simple thing I feel a lot of folks on this forum don't quite remember as often as they should: not everyone can get a 700+. That's simply not how percentiles work and with a 710 you're a in good standing.
There are hundreds of Asian males with higher GMAT scores than you that won't get in this year. It comes down to the ENTIRE application.
So, if the honest answer is "Yes, I can improve my score 30+", then retake it. If it isn't, buckle down on the applications my friend.
And, lastly, congratulations on a great score!
Bhavik