Its never to late to give it a shot. Back in the 90's a juco used a 60 something year old to pitch that still had eligibility. This year the juco div II national championship team used as I recall a 37 year old to pitch them to the championship.
May I ask what college? I may add it to dd's list of colleges to go see. Go for it!
you are coming back to school to get your degree and hopefully start coaching at the high school level when you graduate and would like a chance to walk-on and want to know what the process would be.
Here is one potential problem you will face if you make the team = travel. You might be gone for a couple of days at a time. Your family would have to be willing to jump in and take care of the little one. It sounds like you love the game and so, if you have the support system, go for it. The fear of not knowing is awful hard to overcome in one's life.