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If getting into PE Ops is your #1 priority I would apply to PE Ops around your 2nd year MBB anniversary. If you get a good role, love to PE OPs. If not, go to MBA and use the pre MBA internship, MBA internship and full time recruiting season to get three additional opportunities to get your foot in the PE Ops door.
If you're dead set on an MBA (nothing wrong with that) you will get three shots at PE Ops instead of four (pre MBA internship, MBA internship, full time recruiting), but you will miss the 2-year mark full time recruiting window.
How to ‘apply to PE ops’ roles when it’s all through HH?
Network, network, network