A little late to answer your question, but here goes. I was accepted into the Accelerated program with a year of Experience - 1 year is the minimum requirement for MOST schools as they want you to bring some kind of experience to the group discussion you'll have. That being said, I finished my degree in a fall term, so I only really missed one academic year. Get your GPA from the last two years up, and smoke the GMAT, and you'll be fine. Mac's incoming MBA class sizes are huge.

MY suggestion is this, though. With such little work experience, you'd be better off trying to get into a co-op program. You'll earn decent money while in school, and be far more marketable when you go for a full-time job. I ended up going to Rotman, so I don't know first-hand, but from what I hear through friends, DeGroote's MBA Co-op program is a real good one.