When I apply glossy material in Cycles to a simple setup, the blender bakes it same as a diffuse material, I want the light and reflections so that i can import them to game engine. How to Bake glossy material so that I can use one diffuse texture and another Specular Texture and get real time effect?
You can't bake the reflections 100% accurate but you can just hide the object you want to have reflections on and position a panorama camera and make the mesh reflect that panorama. If you do it like that of course you can't see the reflections from the object itself, but you could split your object in parts to achieve complete baked glossy. In Cycles you could do it like this:
instead of glossy I would then use emission and also mix the color from that environment texture with the diffuse texture
You can't bake "light and reflections" to be usable in real-time and behave like reflections. Thats not how reflections work in game engines.