Hi. There. sorry about the challenge - lay offs in some industries have been significant, esp tech, and I just saw Goldman laying off people right before holidays. Many schools have made/given an easier application process for the US Tech workers. Not sure if you would be falling under that group/category but Schools are trying to attract these applicants since many of them are highly motivated and hard workers who are the top performers in their areas. So, with lay offs this common, I would not be overly concerned about March.
At the same time, once you hit submit on your application, it does not matter what your situation is really. You are not obligated to disclose that you have left your job or been laid off. If it comes up in the interview you can mention it but I do not believe you have any obligations to volunteer this information.
In terms of your bigger picture/situation, I would say nothing is ever guaranteed and you never know how things turn out. My suggestion would be to start recruiting as soon as you hit submit on those applications. Unfortunately any other option would disadvantage you. You want to be in as strong position as you can be from negotiation/options perspective. I am not saying you start a new job in March and then quit in July. That would be terrible and dishonest on some level and burn a bridge But what I am saying is you start recruiting to see what options you have or may have by March when R2 decisions come out. This can get tricky with people who have pursued this strategy in the past and found a job in Jan and it progressed very quickly with the employer wanting an answer in mid Feb, creating awkwardness but that's the least of your problems. Assuming you recruit, you may find an awesome job and decide to delay your MBA by a year or two. If it is an awesome job, you will likely be able to leverage it for a better school and admit. At the same time, if you strike out of all your apps but one of the safeties and you can't find a job, then it is pretty clear that you should take that safety and be thankful for it.
P.S. I am with you about starting a job only to quit and not sure what you can do in 3-4 months before Bschool but you should be able to find some volunteer, travel, or PT opportunities. Perhaps consider starting a business or learning some languages or programming or taking some certification courses towards your future career - there are many ways to use your time productively before MBA. You can also keep recruiting and see what you can find so you continue to stay sharp since that's exactly what you will need be doing a month after you start your MBA.
What do you think about this approach?