Why do you think you could get into one but not the other ?
Apply to the school you want to be in. If you lack LORs/teacher reports, it’s not going to matter.
If you want to study business, then make sure you apply to b schools, not Arts & Sciences.
McDonough is fine but so are many others if it doesn’t work out.
As for transferring b4 enrolling, call (don’t write) and ask your question.
But if they admit by major or college, it’s unlikely until after freshman year when the internal process to transfer is available.