That’s probably what I would counsel OP to do, but it’s up to them. Time is getting short to change either Princeton REA or UVA ED.
Yep, definitely a risk. UVA could rescind an ED admission if they find out, and vice verse.
I would also urge OP and their parents to not tell ANYONE they did this. Not classmates. Not parents’ friends. No one. Assume someone WILL call the schools and tell them. The outcome in that case would be both applications pulled with no chance to explain.