Day care or private nursing is not an option unless someone else is footing the bill. Day care is not even a money problem, it's more a problem of "the devil you know is better than the devil you don't." A seizure is something you can plan for and come up with options. Day care has a hell of a lot more unsavory potential variables. Read the news sometime.
Maybe all those people with kids in daycare are delusional, compeltely out of touch with the dangers they are placing their children in. Or mabye you are. Which is more likely?
Yes there are problems and challenges with daycare, and infant daycare spaces may in fact be unobtainable in your area due to high demand, but to think that "a seizure is something you can plan for", there seems to be something wrong with your world view. If your wife's seizures are unpredictable enough that you need some sort of monitoring, and you are able to afford care for your children to take that burden away from her, then not doing so seems strange.
Epilepsy is generally not associated with any other mental issues is it? What is your wife's position on all of this? Does she want to remain primary care giver in this situation? Does she think that this planned monitoring system would be safe enough? How is she coping with this sudden change in her previously well controlled affliction? This type of relaps can lead to major phychological distress - how is she coping with that? Being the primary caregiver of little kids is tough enough for anyone - can she handle the extra burden now that she's no longer confident of having seizures under control? How about you? Is your stress level such that you are maybe in need of some additional support? Are both of you getting enough sleep?
Are there perhaps five friends or family members who could take one day each week to spend the day with your family? Members of the local mom's group? People in your birthing classes? Church members? If the expected frequency of seizures is so high that it feels wrong to burden friends or family with the issue (perhaps monthly, weekly or daily?) then it is clearly too high to rely on tech solutions and panic buttons - your wife needs more help than that. If the expected frequency os seizures is low enough (I don't know how low this would be - maybe once a year seizures?) then maybe it would not be so difficult to provide good social coverage durring work hours, and rely more on the kids when they got older, but unless you work within a hundred meters of your home, I cannot imagine how you can think that any sort of remote monitoring would provide the type of help that you are going to need.
If mom has a seizure and you get alerted to it, what are you going to do about it? How long is your response time to get home? Are you really comfortable that the toddler and the infant will be able to handle things until you arrive? And that you can get home in time to assist your wife with her seizure issues? Are you expecting to call the ambulance to get there before you? What do you expect them to do with the kids? I imagine that the systems in place to care for families in the community might view such a situation as an unfortunate rare accident, but if this type of seizure happens again, do you think social services will be happy with leaving the children under the care of you and your wife? While there are news stories of children being left in awful situations with terrible parents, there are also cases where children are separated from parents who maybe don't seem so bad - would this type of situation fit into that characterization?