Yeah, it seems like the AMBA doesn't have so many elective possibilities, so it might not be worth it in your case.
Are you an international student, or are you already based in Canada? If you're in Canada, then you can apply to Ivey until January. For Smith I believe that it should be the same case, international applications for the MBA ended on late September or early October, can't remember correctly.
My reasons for Rotman/Queen's over Schulich is that I believe that they are considered more to be Tier 1 MBA in Canada, a little bit higher than Schulich. In my case, I wanted an MBA and got accepted to Rotman, Ivey and Smith, while Schulich was an option that I was considering if I wasn't accepted to the other schools. I ended up choosing Ivey precisely because of the 1 year program and I intend to stay in Canada after graduation, but Rotman and Smith have great programs as well, so it was a tough decision.
Are Rotman/Queen's considered to be Tier 1 just for MBA program, or for other Masters as well?
It's funny because when I was applying for undergrad Schulich was said to be Tier 1 while Rotman was considered as Tier 2.