Hi Quince,
My daughter was almost a year old when I began my second MA. Being a parent and a grad student can be very taxing, but is totally manageable once you determine how to negotiate your time. It was quite the challenge, but here's how I did it:
**Time management is EVERYTHING. Try to create a schedule for study time, parent/family time and YOU time. I always used digital calendars (iCal, Google Calendar) as well as my trusty Moleskine planner. I always managed to stay on top of things with a sound system of time management.
**Review the syllabus for each course and plug ALL due dates into those time management devices. This includes weekly readings! I would also set separate deadlines for assignments. For example, if you have a 20 page paper due on the last day of class, establish smaller dates for outlines, drafts, etc. This will help you to progress step by step, instead of becoming overwhelmed with your course load and life in general.
**Make time for YOU. Try your best to plug a little relaxation into that schedule, even if it's short lived.
**As a mother, I can tell you this is probably most important GIVE YOUR WIFE A BREAK!!! Being a mom is the greatest job I've ever held, but it's also the toughest. I know you'll be overjoyed to spend time with your little one, but trust me your wife will appreciate that down time as well. It will help to keep those lines of communication open and it will serve as a support for both of you - as partners, parents and for you as a student.
You won't have a smooth schedule everyday and you will have days that require immediate adjustments, but you won't find yourself completely drowning in projects, deadlines and the like if you have a solid system....even if it seems like your rough days are quite the burden!
Those are the things that immediately come to mind. I hope this helps!