My sense is that you have a good chance of getting in. Yes, your GPA is low, but you have a very good redemption story to make up for it, which you should definitely use either for your optional essay to explain your grades, or for a "learning from a mistake" essay. A 3.45 in-major GPA is more than acceptable, and bouncing back like that shows resilience, which adcoms definitely like. Your 3.45 in recent classes also shows an upward trajectory, which is good. Don't kick yourself too much for past mistakes -- I also had a bad year in school (collecting a bunch of C's and a D), and at first I couldn't get over it and my application essays were all about that. But friends & colleagues gave me very good advice on framing things in a positive light (since everything aside from that year was positive) and I got into a Top 10 school. GPA isn't everything.
Minor point about wording: don't describe it as "in the last 84 hours" since it's a bit confusing. Talk about terms or semesters or number of courses. Like "3.45 during my most recent 5 courses" or whatever the case may be.
Other pro's: you have a great GMAT score, which should put to rest any doubts about your actual intellectual/academic ability; your work experience is interesting and non-traditional; sounds like you have management experience, which scores you major leadership points (emphasize it and focus on the managing people aspect, not just manging budgets or money); your goals are very well suited for an MBA.
As for the schools you're targeting, your stats are well in line with their admitted class. I pulled the image below from application manager http://www.applyinthesky.com
(Sorry for the shill to my start-up but it was the easiest place for me to compare applicant stats to school stats. Moderators feel free to edit out the link if it's not kosher.):
I hope I got your stats & schools right... Your work experience I inputted as 4, but it's higher than that an in any case you have more than enough to be competitive. Yes, your cumulative GPA is low but your in-major GPA and your more recent GPA are both significantly higher than the averages at the schools you're targeting, so I would think you're good there.
As for safety schools, what are you primarily looking for in an MBA program? Might be able to give you some ideas.
Hope this helps.
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