I have kids on my own. 4 yrs old and 2 yrs old. I quit my job to take care of them full time. The first few months was amazing but after 2 yrs of the same routine drives me crazy and still driving me crazy. No family here, just me and my husband. I understand your wife's emotional breakdown. Been there too. But it was never an option to send them to PI. If you are located in Los Angeles area, the county has a program that is called LA UP. This will allow you to send your 5 yr old to school for free (even if you are earning high income). Have your wife call her friends to ask for help even an hour a week so she can have her "me-time". This always work! Trust me. Also pay a babysitter once a week for an hour so you and your wife can have a date maybe a movie or dinner.
And if money is the problem, have her sell stuff online. Few dollars will surely help.
But do not send your kids to Philippines. They are yours, not your inlaws children. Just saying.
Tell him being bilingual is an advantage for him. Him showing his achievements and work experiences are always a plus regardless if they were from foreign country.
It's a small price to pay, Niblet. That's why hookers are cheaper in the long run, because you pay by the night, whereas marriage is a long-term payment plan.