Sleepless Toddlers

Despite all of our best efforts and attempts, Dean and Abi still aren't sleeping well in the same room. If we put them down together they will play relentlessly (despite multiple spankings and other assorted punishments) for at least two hours. If we stagger bedtime or put them down separately and then move them into the same room later in the night, they inevitably either wake up randomly in the middle of the night to play (like last night) or they are up at 5:30 am for the day. Dean seems to be the instigator as I usually hear him first and then Abi. Of course once Abi's up she contributes her fair share to the chaos. I really need them to sleep well in the same room so 1) they can get over their colds and 2) I have a room available for baby to sleep in since he/she is arriving soon. There is very little room in our room for the pack 'n play bassinet that we are using and I sleep very poorly with a baby in the room. I know... weird, but it's true with each of the last two I've found that I (and baby) for that matter do better when sleeping in separate rooms. So therein lies my dilemma.