Hi Rajesh
As you'll be having 2 years of work experience by 2012, you can very well apply for a normal 2-year program rather than the executive program as they require anywhere between 2 and 5 years of experience, sometimes more than that.
Most 2-year programs require you to have some minimal amount of work experience. In case you have less work experience, you can compensate it with a good profile (GMAT score, academics, achievements, activities, etc). You can shortlist the B-schools you are interested in and then research those to find out specific requirements such as age, work experience, profile, etc.
I'd recommend you concentrate on your GMAT first and then towards the end of your preparation (or may be after you have appeared for the GMAT), research on what programs you are interested in and what colleges suit you.
Hope this helps.

Cheers!