This is a huge consideration and really should be dictating your actions. IMO, if there is a very likely certainty your child will go to med school, her undergrad institution should be affordable. Med school depends on grades, MCAT scores and recommendations. It’s fine to go to UNM, be top of the class, and get into med school. Where she attends undergrad, if med school is the goal, isn’t that important.
And you have another kid. Is it fair to relegate him to the dregs of your income should things not work out as planned? It seems to me this job is recent. Do you have all the money saved for both your kids’ education? I think you are still in “what if…” territory. Maybe your job will work out fine and you will have plenty of money. Hopefully you will. But I get the feeling you aren’t at that stage yet.
There’s been more than one story here on CC of a student having to transfer because parents can no longer afford the tuition and don’t qualify for enough FA. In your shoes, I’d avoid starting off too close to the edge.