No.
The plane took off at 12:21am and flew 2 hours when it disappeared.
If it indeed was headed back it would have arrived at the towers before 5am.
What would be accomplished flying into empty buildings?
It took off at 00:41. The transponder signal was lost at 01:22, when it was at 6.920833, 103.578611. So, whatever happened or started happening, took place 41 minutes in, not two hours.
The plane disappeared after 40 minutes, not two hours.