Look at your list of things to get done and prioritize; see what can be left out. Cradles are wonderful but baby dolls to go in them are a great substitute with cradles to follow on birthdays or New Year's. Cleaning the house - my mother always said to make sure the bathrooms are clean and vacuum and quickly dust noticeable surfaces in the room where the gathering is and close doors to bedrooms, other rooms. Put out some decorations and start a new tradition of decorating the tree all together on Christmas Eve (if it doesn't work out, just say, oh well, we will go back to doing it earlier NEXT year); get what you can done on the Around the World quilt then put the rest of the fabric in a gift bag and tell her it is a gift in progress - if she is any kind of a good kid, she will understand.
My best idea: wrap a big bandage around your wrist and put your arm in a sling and tell everyone you weren't able to be everything done due to your injury and will complete projects as soon as you heal. Then let everyone help you do what you need to get done!
Meanwhile, take a deep breath, put on some Christmas music and read or watch a favorite movie, then work on one thing at a time. It is amazing how much you can get done when you are relaxed!
Good luck and Merry Christmas!