I just got my acceptance into the Baruch Flex-Time program this week...I applied online and it took about 3-4 weeks from the time they received my scores and my application was complete.
You might be cutting it kind of close, but if they say you'll be OK, then I guess it's alright. I'd just focus on improving your score. Baruch sent me a profile of the Fall 2005 Flex-Time class with my acceptance letter and it was as follows:
585 average GMAT
middle 80% GMAT range of 500 to 650
3.2 average GPA
average work experience of 5 years
I went to an open house at Baruch, and the people from the admissions committee said they weight the GMAT a little bit more than the other parts of the application because it is the most objective.
I didn't apply to Fordham but I know their stats are very similar.
Hope this helps...good luck