Without wishing to be blunt it's a stupid plan.
As things stand now you are at a non-target (presumably, I don't know what UCSB is) school and so have little chance of getting an undergrad consulting position. But there is no harm in applying, so apply
Your back up should then be to get some decent work experience in another environment, and then if you still want to do consulting to go to business school in a few years time. Or to try to transfer after a couple of years of good work experience
If you apply as an MBA student you won't be considered for undergrad positions, you will be considered for MBA positions, and you will have no chance at all from a poor business school with no work experience. You are trying to take a short cut which doesn't exist
If your education is currently sub-standard, then you need to raise your standard in some way - clearly adding another sub-standard qualification will not do this