That's not too bad of a drive. You can hop on SR 528 and there's an exit that takes you right to the Cocoa campus...less than 5 min away. Pretty much a straight shot depending on where in Orlando you're looking at :)
You can "double dip" and apply to both campuses. You put your first choice in the application and that's the campus you would attend if both campuses wanted you in their program.
I am also applying to the UCF Regional campuses for spring 2018. Cocoa is my first choice at the moment since it is closer to home. But I will happily go to whichever campus takes me (if any).