You'll need some serious other attributes to overcome not having a four year at the majors these days. With still so many military guys to choose from (many with graduate degrees) the competition at the majors will not yield for some time.

The degree is required because it changes you as a person. Your understanding and acumen is bolstered by a better understanding of the business world with a degree. Most Pro Aero degrees from decent aviation schools will require a substantial amount of business education. Going through this does change your understanding of business for the better and this is why major airlines prefer it. It also shows your dedication and determination to goal setting and achievement.

Get the degree done as its a minimum requirement in and out of the majors these days. You'll be glad you did and at a good school you'll be a more worldly and comfortable with business concepts for a lifetime. It's well worth the effort.