Robinho and Baptista missed training on Friday and were omitted from Madrid's 2-1 loss at Espanyol in the Spanish league the following day.
"The board is very keen to hasten this process and will decide on the case soon," Madrid said in a statement on its Web site.
The players are each likely to be fined between EUR3,000-4,000 (US$4,265-5,685), sports daily Marca said Tuesday.
Robinho was reported to have celebrated into Thursday morning after Brazil's 5-0 win over Ecuador in a World Cup qualifier in Rio de Janeiro.
Both players may be recalled for Madrid's Champions League match against Olympiakos on Wednesday.
"We should use shock therapy to sober up the Americans. In this case, the Americans will speak about the need to resume dialogue. There is no other option"
The United States is concerned about the current crisis in the relations with Russia and suggests returning to reasonable policies to avoid a nuclear war