I went to an aviation university (similar to ERAU) then flight instructed at ATP and made it through the regionals to the majors in 6 years.

If I had to do it over again, I would:

-Attend a "regular" college and major in something besides aviation (like business). I missed out on the "regular" college experience (socially, partying, etc) because typically aviation college/universities are lame and mostly male.
-Fly on the side, and/or attain your ratings with ATP. Best, most efficient flight school out there in my opinion.
-Build your hours flight instructing at ATP. Again, I think this is the best and most efficient way to build time. ATP has the largest multi-engine fleet in the world so you will gain that much needed twin time.
-Apply to all the regionals, but try to choose the best quality airline to work for (ExpressJet, Compass, Skywest, etc) and avoid Mesa, Republic, GoJet etc.
-The majors are going to be hiring like crazy for years, as long as there isn't another 9/11. Hundreds of age 65 retirements per month.

Good luck! Persevere and don't give up. It's a lot of blood, sweat and tears but once you get to a major airline it will all be worth it $$$.