My wife in I were in a similar situation. It doesn't look like we'll be getting our MBA's at the same time but here is what we were thinking.
NYC- Columbia and NYU would be ideal but Yale and Wharton were probably doable. Yale more than Wharton b/c New Haven is the last stop on the Metro. It would be a hellacious commute but could be done. Especially if we lived somewhere in between. Wharton is obviously in Philly but we could see each other on the weekends pretty easily.
We didn't want to do Boston b/c I don't think we really had a shot at Harvard and I didn't really like MIT.
You also could consider Duke and UNC. I figured this would be more of a safety net but both have good MBA programs.
Of course there are the Chicago schools and finally SF Bay Area (Stanford and Haas).
There are obviously options. NYC, where we want to end up, was the ideal situation and I think we had a good shot but our situation changed and we will be spacing out our MBAs.