You are right: don't let her cry it out. But you can still put her to sleep in the same room as the playful toddler. If you can, put up a baby gate and have the bassinet a few feet on the other side so you can see both babies at the same time.
I agree that you should let the baby get used to the everyday noises of the family. I heard once, "the baby came to live with you NOT the other way around." She will get used to it soon enough.
I still vacuum under the kids' beds and they never even move. My sister stayed with us for a while and that was the only time I COULD vacuum because of the excess toys out during the day with 2 more kids, but I woke my nephew up every time. (See the difference?)
I hope this helps,
P. <><