my baby boy is 13 months and my baby bird is 7 years. they are fascinated with each other. my son goes to bed at 8 and the evening belongs to pearl. she's up a little later but she sleeps in a little longer too so i've dealt with the kids (i have 2 twelve yr olds as well) before she comes out of her sleep cage for the day.
i make sure pearl sees me holding the baby and making a big deal about him. she has to know he has alot of value to us but she's important too. so she gets her attention too. she now knows that as soon as i get home i deal with the baby first and her right after. she only gets bent out of shape if i tend to the dogs before her. (lol....the term "pecking order" haha) when jett goes into his high chair to eat, she gets to eat too and as her cage is in the dining room it becomes a flock activity.
both of them love that horrible treehouse channel on tv and i endure it to keep them happy.
it's tricky but it can work. my son has no access to her directly and i assume full responsibility should he ever get bitten but i never take for granted that she wouldn't hurt him. she is, after all, a wild animal with the equivilent of a sharp can opener on her face.
and i can honestly say he can sleep right through her evening screech fest. good thing cuz between pearl and my 3 dogs my kids would never get any sleep if they woke up every time a critter made noise.
i really hope you can work out a rhythm with your baby and your 'too.