Redrabbit87
Is either PT or FT more or less valued in the job market afterwards? Is it easier to build networks and connections in either format?
FT will help you in two ways:
1) You can aim for programs higher than U-Dub
2) Since you're going FT, you'll be spending a lot of time recruiting and networking: reaching out to alums at your target companies, going to company presentations, putting in for on-campus interviews, joining career focused clubs where 2nd years will mentor you in your internship search, etc, etc.
The networking and recruting in a PT program is more difficult since your time will be eaten up by your job and academics. Also, the summer internship is huge. Some folks that have a consulting background and plan to do that post-MBA actually try to intern in a different industry (CPG, financial services, etc) so that they can bring that knowledge with them back to the consulting side of the house.
Best of luck on whatever you decide. Get that GMAT out of the way, then start rollin'.