That does sound like fun, especially if you stay in a Disney hotel that uses the monorail. Pack light, get to the hotel by 7:30am, check-in knowing you won't see the room until much later], buy the tix ahead of time, eat breakfast/brunch in the park, and see what you can. Everyone has cell phones so you won't get separated. Let the kids explore and the adults can just take in all the excitement.
I wouldn't give up so easily.
If you are a budget but you like thinking outside the envelope maybe you could rent a motor home and a disney campsite for $130 for the night. No matter what happens, you'll remember Christmas.
check it out