Welcome aboard, David! It's great to hear you'll be setting sail on the Disney Dream this November.
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Blue Lagoon Island Beach Day is a great Port Adventure. You'll meet up with your guide on the Dream and walk off with the rest of your Port Adventure group. Instead of just taking a shuttle to the beach, this adventure is like two adventures in one since you get to enjoy a relaxing double-decker catamaran ride for about 40 minutes on your way to Blue Lagoon (and on your way back).
Lunch is included, so no need to spend any extra money if you choose not to. The beach is beautiful with places to relax all day, or fun activities in which to participate if you're up for more fun! Even though you're not experiencing a dolphin swim, you have the option of visiting the Dolphin Encounters area on the island to see the sea lions and dolphins. Your daughter will probably really enjoy seeing those beautiful creatures! If you're up for a walking tour, there is an option guided tour available (for a small extra fee) that allows you to take pictures from the top of Blue Lagoon's tower. Talk about a gorgeous view!
Since your daughter is so young, I think you'll enjoy the fact that if she has had enough beach time after just over three hours (or you want to get her back for a nap before dinner), you can hop on the boat ride back to the pier. However, if she's still enjoying her time on the island, your family can stay an extra couple of hours and sail back after about five and a half hours. And of course, since this is an adventure planned by Disney, they take care of all of the details. All you need to do is show up and enjoy it!
Have fun as you continue to plan, David. I'm happy to help if you have other questions before you set sail next month!