phdmaybe

I have an MFA in Writing, taught as an adjunct professor for seven years, and am currently working outside academe as an editor. I want to get back to teaching, and I want to be a better, more thoroughly-prepared teacher. I also simply want to study lit more deeply. Post Ph.D., I can see myself pursuing a college teaching position, but I've considered teaching high school as well. I am currently on the verge of applying, last-minute, for a PhD in English at WashU, in my hometown. It would be my sole application, at least at present. I'm not really willing to move elsewhere right now. I have a six-month-old baby, and I'm 35. A few questions: Am I crazy to try to do this? Is there any hope of getting into this program if I write the statement, take the GRE, and get my rec letters now? (Deadline is Jan. 19, 2009.) Aside from logistics, I'd love to hear from any women out there with babies/small children who are currently pursuing PhDs in English. Is it brutal? Worse than a FT job (which is my current situation), or better? Any chance of having more time with my daughter? Am I simply too old for this? Thank you for your honest feedback.