There are two options for getting the preferred annual pass. You can purchase a Preferred Annual Pass for $179.95 plus tax or you can use Universal Orlando Resort Annual Pass FLEXPAY program to spread out your payments over 12 months with no additional fee. Just pick the option you want and you are on your way. I'd do it online myself rather than wait in line to purchase it.
If you wanted to save some money, you could buy the PAP for you, and then the PP for the wife and kids.
I haven't seen the Burger King deal like they had last year, and many don't think it will happen. Kids are going back to school this week, the season is about to end, so I doubt they'll launch a season pass deal now.