The Baltimore Orioles and New York Mets announced that tickets for their April 3 exhibition game at RFK Stadium will go on sale today at several local ticket outlets. The Orioles also said, if the game is canceled because of bad weather, tickets may be exchanged for a ticket to a regular season game at Memorial Stadium in Baltimore.

The ticket redemption program is in response to complaints about last year's Mets-Phillies exhibition game. That game was played in snow and rain for five innings, then was called, although the rain had actually stopped.

"The Orioles have been broad-minded and gracious about this," said promoter Russ Potts. "Fans will be guaranteed a ticket for a game no matter what . . .

The Orioles and outfielder Larry Sheets avoided arbitration yesterday by agreeing to a two-year contract believed to be worth $1.1 million. The contract is a reward for Sheets' leading the Orioles in homers (31), batting average (.316) and finishing second in RBI (94) last season . . .

Two other players with solid seasons last year, Minnesota Twins outfielder Kirby Puckett and Eric Davis of the Cincinnati Reds, also came to terms and avoided arbitration. Puckett, who earned $425,000 last season with the Twins, will get $1,090,000 under a new one-year agreement, and can earn an additional $130,000 in incentive bonuses.

Davis also signed a one-year contract that will pay the outfielder $899,000.