I hear it is best to take your test while you are still a senior. The further away you get from the classroon the tougher that thing gets. Otherwise, there are many business schools.
I think the biggest thing is figuring out what you want to do long term and understand why you want to go/what you want to accomplsih with business school and how that will help with your longer-term objectives. Why engineering and then moving to business? What's the connection? I know quite a few people with MBAs that really don't do anything much with them. I have two that report to me and I don't even have a degree.
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