We just returned and had our 18 month old with us. We really found that getting to MK for opening was KEY! We knocked out most of Fantasyland with little to no wait time on anything by getting there so early. The only thing we waited for was Dumbo and it was probably 15 minutes wait. We walked onto Pooh, Carousel, Philharmagic, Small World, Snow White, got fastpass for Peter Pan....
I really don't think you can get a 2 year old through the park without getting there and knocking things out early in the morning. Our daughter didn't sleep well at the hotel and konked out on us on Small World, woke up just in time for our Peter Pan fast pass.
We cancelled our plan to do Animal Kingdom so that we could go back to MK because she loved it so much. Both days we got there for opening. The 2nd day we did Jungle Cruise, Haunted Mansion, Pirates and Aladdins Carpet ride *twice with no wait* right when the park opened. We waited for NOTHING! Then we headed to Toontown, met some characters, and then back to Fantasyland and had done a Fastpass to get onto Pooh once more because she loved it.
All kids are different but we found our daughter did not wait in line well, so getting there early really worked out well. I would think about scrapping either DHS or Animal Kingdom in order to plan in a 2nd MK day. OR, do 2 MK mornings to knock out a lot early on, and do the other parks later in the day. A nap in a stroller or at hotel for 2 year old will be necessary.