Watch these videos:
http://www.streetfilms.org/hal-grade...-bike-locking/
http://www.streetfilms.org/hal-and-k...-bike-locking/
http://www.streetfilms.org/hal-grade...final-warning/

Informative, and entertaining!

It sounds like you know what you need to do already--make it as difficult for any would-be-thief as possible. As far as where to lock to, I would choose the rack in back.

Your post raises some other issues, though. You may want to talk to the campus police about the theft problem. Ask if they investigate bike thefts...they may not be aware of the problem with the rack in front. Also, depending on the size of your school (OSU?), there may be an active bike group on campus. I don't mean bike group as in riding, but more bike issues--security, access, etc. Are there any bike lockers on campus? Check with your campus' transportation office to see if bike issues are on their radar at all. Hopefully they are. Also, try to find out why bikes are banned from the building. Is this an actual campus or campus police regulation, or is this the idea of someone that has a bug up their you-know-what about bikes in the building?