Go to the second parade for a drastically reduced crowd.
Get your free picture taken early in the evening - but go to one of the photo booths in the back of the park where there will be little or no wait.
As others have said, take in the shows and special extras and make the rides lower priority.
Wear a costume - but make sure it isn't uncomfortable. Believe it or not - when we were there a few years ago we saw many kids in those furry costumes and it was HOT HOT HOT. Parents ended up lugging them around all night.
It is really fun! Very festive atmosphere!