@sk_gmat, You have a decent score, and you can apply to a decent schools, unless, as kssr said, its Harvard/Wharton, however you never know you might get admissions into these school also if you have very strong application and other stuff. Most of the school consider GMAT score with +/- 30 points.
GMAT score is one of the factor to admission to t Good B school, there are other factors also such as Aplication, recommendation letters, interviews etc.
Takin up GMAT 3rd time OR not is totally your choice and is left to you. But dont loose heart its a Gr8 score, and can help you to go to you dream school as you also said you have a gr8 profile, it should not be very difficult for you.,,
Wish you luck and Wishes,,