I have a system for the kiddie highlights that gets you through most of them by about 12:30:
Arrive at opening and send someone to Little Mermaid for a FP; then go straight to the Muppets and catch the first show. (If your child likes Star Tours, go there first with no dawdling; you can ride it quickly and still get back to Muppets in time to sit in back with no wait if you book it.) After Muppets, you will be near the return time for the first Little Mermaid show, so make your way back to the front of the park and go to VLM, being sure to catch the first or second show. Then when you exit VLM, cross the walkway and get right into line for Playhouse Disney; your timing should have you waiting there for only about 10-15 minutes. When you leave PD, collect your stroller and pick up FP's for B&TB as you head for lunch.
Note that in the slower seasons, the final shows for PD and VLM usually are over by about 3:00. If you need to do the kiddie shows at MGM, you need to go for them in the morning; if you try following an afternoon break, you will be too late. We always park-hop and split MGM into 2 days; one morning and one evening, with some overlap on the times. On the morning day we target the kid-friendly things, and on the late-day we do the e-ticket rides, Indy and Fantasmic.