I have a Bachelor's in Information Systems from Charter Oak State College in Connecticut that I earned from a combination of traditional on campus courses, an IT certification (MCSE), CLEP tests, and online courses.
My situation was different from yours in that I already had picked up IT skills on the job, and was getting the degree so that my paper credentials would catch up with what I already knew. I can say, though, that ironically, it's harder for many people to learn IT skills online than in a classroom. It's one of those subjects like Math or Accounting or some others that have tricky concepts that often require a lot of exchanges between instructor and student to convey. For example:
Instructor: ...and that's how [insert tricky concept here] works.
Student: I'm confused. Do you mean like this? [First attempt to reiterate concept]
Instructor: No, not really. [Further explanation]
Student: Oh, well, do you mean like that? [Second attempt to reiterate concept]
Instructor: Closer, but still not really. [Further explanation]
Student: Ooooooh, okay, I get it.
Now, in a classroom (or in synchronous learning, like video conferencing, which is rare in online degree programs these days) one can do that exchange in realtime, and the student can end up understanding the concept right away. In an online course conducted asynchronously, as with discussion boards not unlike this forum, that exchange could take days, and considering how many online courses are accelerated, that could make things very difficult indeed.
I'm saying all this for two reasons. First, you're absolutely right to look for an entry level job in IT at the same time as you look for a degree program. Second, if it's possible to take IT courses on campus, you may want to consider it, so even if your ultimate objective is a degree earned largely online it would be ideal to find one that's liberal on accepting transfer credit. Third, get some IT certifications as quickly as you can, because you can use them like transfer credit at many institutions, and as a credential it will be better than nothing in the job market. A+ may be a good "starter" certification to consider.
Good luck!
-=Steve=-
B.S., Info Sys, Charter Oak State College
M.A., Educational Tech Leadership, George Washington University
Doctor of Health Education, A.T. Still University, in progress