That sounds steep to me too. Would you consider flying out of Philadelphia? There are many more direct flights to Orlando from Philadelphia than Newark. I just plugged your dates into Travelocity.com and it came up with 20 non-stop flights ranging in price from $181 per person to $201 per person.
We live a little closer to Philadelphia than Newark, but we fly out of either airport depending on where we can get the best flights or rates. It really depends on what city you are flying to as to which airport has the better flights and rates, but I consistently find Philadelphia to be considerably cheaper and have much better flight choices for Orlando.
Good luck!