ammu100:
Responding to your questions:
Q: Is my profile decent enough to get into top us MBA programs?
I don't believe your profile will be that competitive for the top deferred MBA programs in the US. These programs are incredibly selective and are reserved for candidates with impeccable credentials. You have a good profile but there are several areas of concern.
Q: What should I do in the coming 2 years to increase my chances and make my profile more competitive to get into my dream (M7) schools?
A: Accrue some top work experience. Focus on building out your extracurricular involvement and community leadership in a big way. Engage with the schools by attending admissions events and talking to students, alumni and professors.
Q: Would a low GPA in my 1st undergrad degree affect my chances and should I apply on the bases of my second undergrad degree?
A: Yes, it will have an impact but the degree of the impact is questionable. Thankfully you have two other strong GPAs to counterbalance your arts degree GPA. That helps, but it doesn't erase it. You will need to do very well on the GMAT and do all the things above mentioned so you can have a holistically strong GPA.
Let us know how else we can be of help.
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Admissionado