Yeah,
I kinda agree that the meds may take a hard load on your babies. Maybe you can take the parents out and treat them in a different tank. That fungus that the parents have doesn't sound good for the babies, so maybe you should treat the parents before the babies get it, because that could also be fatal. Maybe you could remove all of the babies, and the parents into different tanks, then treat the tank that both the babies and parents were in, then treat the parents in the seperate tank as well. Then you could put them all together again after a few days. You seem to have a lot of fish, and a lot of fish knowledge, so I'm sure you'll think of something productive.
~Taylor~