What we did is asked for a bedrail and used it on our bed. We rolled up some bath towels into a bumper; kind of in the shape of a long tube.
We placed the rolled up towels next to the bedrail and put Sarah next to the towels. Missy slept next to Sarah, and I next to her. It all worked out very well although I know some parents are very concerned about rolling over onto their children.
We agree that there isn't much room for a pack n play.
Jeff