hey psuKinger, I know this is an older thread but I just stumbled on it.
I'm in the same situation as you (except I'm ECE), and I share many of the same aspirations/concerns. I would like to be in a technical management position later. So I chose to go for a MS first, then a MBA after. Let me tell you my reasons:
1) After undergrad, I felt that I didn't get into the areas that interest me as well as I liked. So the natural progression would be a MS.
2) While recent movements in engineering education have moved toward more communication and interpersonal skills, the curriculums are still highly technical. So I feel that a MBA would be useful to learn aspects of business operations not taught in engineering schools but useful in everyday workplace.
I'm in the progress of completing my MS, but MBA at this point is anticpated, but not absolute. I have considered an online program, but there seems to be a strong negative stigma associated with it. If you cannot go full time, and there is a reputable b-school near where you live, then I would go that route. If no decent b-school is available, I know Penn State and NYU both offer online MBAs, and both have reputable brick&motar b-schools. That is actually my plan.