please advise on family visa for 10 year long residence

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first time post question, thanks in advance for suggestions:
I am able to apply for ilr on 10 year basis in August 2012, 7 year student and 3 year tier one general (Sep 2009 to Sep 2012). My wife is under tier one general dependent visa from (sep 2009 to Sep 2012). My child is born in UK in June 2012, without any visa.
This is my plan:
1. I apply the ilr in August 2012
2. Includes my wife's flr(m) application at the same time, once her spouse visa issued, she can apply for ilr by using set(m)
3. Includes my child's ilr application by using set(f).

Please advise whether this is a feasible solution, many thanks!