If you have 680 GMAT with 2.7 GPA and has had a successful career so far, I would say go for it.
Generally speaking, the older you are, the less your undergrad GPA matters. Your GMAT would be a better indicator of your MBA success. Sure, a 700+ GMAT would be even better and certainly would look better, but you may just have what it takes. The fact that UCLA FEMBA has increased its enrollment 4 years ago helps you a lot.
I highly encourage you to go the open house and talk to the admission directors directly.
UCLA FEMBA graduate here.