Hi Andrew,
It sounds like you have a great vacation planned. I love a stay at
Bay Lake Tower at Disney's Contemporary Resort. The theme there is sleek and modern, and the ability to walk to Magic Kingdom is wonderful. I also enjoy a multi-generational trip. It is fun to see what Walt Disney World has to offer for all ages!
For a daily schedule, I think it depends greatly on the people in your traveling party. You know your child best. I recommend that with young children, you stick as close to their regular schedule as you can. This will keep them more well-rested and ready to enjoy the vacation. When my daughter was 5 years old, it still worked well for us to head back to our resort mid-day for a rest. Even if she did not nap, heading back in the middle of the afternoon to relax helped her to regain her energy for the rest of the later afternoon and evening.
Also, many young children wake up early in the morning. Take advantage of this! If your child tends to wake up early, plan to head to the theme parks as early as you can, even arriving 30 minutes or so before opening time. You will be amazed at how light the crowds are early in the morning. You can experience so many attractions in the first couple of hours that the theme park is open, before many other guests arrive. When my daughter was younger, we would often arrive before theme park opening, and then be heading back to our resort to rest after a late lunch.
Also, seeing that you are traveling with many adults, I suggest that you consider splitting up the group occasionally. If your child needs to head back to the resort for a mid-day break, send whichever adult is tired back with that child. The rest of the adults can stay and experience the theme park. By using Walt Disney World transportation, this option is easy.
Please do let us know if you have any further questions, Andrew!