Hi Kimberly!
I think so, but I also have kids that while at Disney World, are very flexible about their naps and can enjoy the parks even into the late hours! Many other parents do take their young ones to Mickey's Very Merry Christmas Party, too, though. In addition to the beautiful fireworks display, there is a wonderful holiday themed parade, performances and appearances by some of the most beloved characters, snow on Main Street, U.S.A., hot cocoa and cookies (yes, you can get hot cocoa and cookies on your own, but there is something special about having them given to you in Magic Kingdom as part of a celebration!), and the ambiance is truly like no other. You'll be at Disney for what I consider to be the most magical time of the year. I would suggest attending the celebration in honor of it and making it the highlight of the trip. My children have enjoyed it at as young as just under two years of age. Of course, I always believe Mom knows best, so consider your own children, and enjoy the festivities throughout the Walt Disney World Resort, and that spectacular view from the Contemporary, during your magical vacation!