chances of getting secon cpt for second masters

I have completed masters of science in dec 2008, applied and granted opt period , but did not got any job and so I came back to India in Aug 2009.
since Oct 2009 I am working in India.
Now I would like to go back to usa. but I am not getting a suitable sponsor who would like to file H1B from India. so I would like to go back to usa on F1 and then I would like to get H1b visa.
so before getting H1B visa I want to go for cpt.
is it possible that I can get cpt for second masters degree?
or I need to get admission in PhD only?
and if I have applied to PhD, does it necessary to have work authorization before applying for the job?

Well, in my view, applying for Higher education or second masters should be driven by passion and not just immigration benefits. You need to consider the fact of OPT for second masters in USA

Thank You very much Kumar for Answering my question.
I would like o be more clear about Opt , I haven’t served in the OPT period , though I had got the employment authorization card.
I was there in USA for 8 months after completion of my MS course.
and another question,
How and who will decide whether I will get the CPT or Not.

Thank You
Hrithik Chopade