Hello and thanks for your post.
I think you have solid goals – they are realistic and specific. And it is fine to have a Plan B, which in your case is to return to your current field. Many schools even ask what your alternate post-MBA goal is, since they realize that plans can change. Just be as specific as possible, and admissions should feel that you have really thought about your post-MBA goals and why an MBA makes sense for you.
The application process is holistic, and committees will look at your stats (GPA and GMAT), work experience, and extracurriculars.
Your GPA is strong, as is your GMAT. They are both about the average for a school like Oxford Said. Good luck with your second try, and I suggest taking it up to 3-4 times. You have nothing to lose since schools will only look at your highest score. And even a slight increase can boost your profile. You may still want to illustrate to the schools that you have the academic ability to succeed in the classroom. You could showcase your quant ability in your resume, your recommenders could do the same in their recommendations, or you could even take a supplemental course such as stats or calculus, depending on your transcript.
It is hard to gauge your work experience without knowing your accomplishments and impact you have made there. It is nice to see you have already been promoted.
Your extracurriculars are quite strong, just make sure to really emphasize your leadership roles you have taken on. And you’ll want to emphasize your side project since that will be a big part of your story.
If you continue to strengthen your profile, you do have a chance at Oxford, though I suggest apply to several schools, including reach, target and safety. Hopefully they will see that you have a compelling story and are someone who will add value to the classroom and community.
If you would like to discuss your story or anything else in greater detail, please sign up for a free consultation. It is never too early to get started.
Good luck!