Well, Shwedagon is in the city, and I would recommend eating there as well. Plus, I'm not sure what you'd do elsewhere closer to the airport...

You'll probably get to town between 10:30-11 depending on how long the lines are at immigration. And you'll want to be back at the airport by 8:30, so leave the city at 7. (It's not really that far, when I landed at 5:30am, it took 20 minutes to the city, but everyone was still asleep!)

That's plenty of time for lunch and dinner and a visit to Shwedagon. Drinks at the Strand are fun as well.