Hypo, I don't need to demonstrate the inverse square law to myself (and jomifl, this isn't an April Fool either...). The point is that it can be either suppressed over a certain distance, essentially by forcing the transmission to be far more directional, or otherwise accounted for at the receiving end by careful signal-to-background analysis. In either case, the problems involved are far from trivial, but I don't think they are impossible to overcome even over light-year distance scales.
Targeting the Earth is surprisingly easy (ironically, partly because of the inverse square law...), in principle at least, because the Sun will show up as among the brighter stars when seen from Alpha Centauri, and because the signal will certainly spread out over the transmission you need only point it in that general direction to be sure of hitting the Sun, and so also the Earth.