Glider, I'm not a fan of long military obligations or bonus bribes. (I speak with considerable experience in both areas.) However if you're feeling challenged & fulfilled and you think you'd do it anyway then you might as well take the money.
I'd have a "Plan B" for that hardship unaccompanied tour to Korea... or a health surprise that flunks a flight physical... or whatever other hot-fill billet the assignment officer wants to put you in. Because once you take the money, you're their honey.
You're absolutely right to pay off debt, ditch the rental property, and max out the contributions to your TSP, spouse's 401(k), and both IRAs. In the unlikely event that you need to tap those accounts before age 59.5 there are plenty of penalty-free ways to do so. I doubt you'll need to do so.
Since you're effectively signing a 10-year employment contract with minimal possibility of layoffs, you could choose to be much more aggressive with your asset allocation. If you (and your spouse) feel that you can tolerate the stock-market volatility (or at least ignore your account balances) then you could invest in a 100%-equity portfolio of passive index funds with low expense ratios. That'd be the TSP's I & S funds (since other funds of those types tend to have higher expense ratios) and a collection of Vanguard or Fidelity equity index funds (domestic or global). But you have to sleep comfortably at night, too, so pick an asset allocation which you can set in autopilot and stay the course.
I don't know the details of your bonus contract, but can you still sign your GI Bill benefits over to your spouse and/or kids?
A few garbles on the info here:
Definitely max out TSP, IRA and 401k possibilities. If you wife will only work 6 months in 2016 then double up on her 401k contributions to get the max. If there is time this year to up contributions (TSP/401k) even for a pay period or two then do it.
Or maybe not the IRA - income limit is $183,000 - $193,000.
IRS Pub 590 lists those limits for a Roth IRA. However even above those income limits, you can make a non-deductible contribution to a traditional IRA and then immediately convert it to a Roth IRA for the same effective result.
Of course if you're contributing to a traditional IRA then you might want to wait on the conversion until your income drops due to military retirement or quitting a job. Do the conversion (a little each year) when your income-tax bracket is lower.
Roth IRA conversions are a perpetual debate in many other threads here, but the main point is that you should contribute to an IRA every year no matter whether it's a Roth IRA or a traditional IRA. After the annual deadline, the opportunity is forever lost.
You can also contribute $14,000 per child to a 529 per year, I think. So in your case that's $56,000 off the top that doesn't need to be taxed.
The gifting limit to from anyone to anyone else is currently $14K/year per person per recipient. That's just an administrative limit for the giver, above which you'd have to report the transaction for eventual assessment against estate-tax laws. The recipient doesn't have to pay any tax on a gift and doesn't have to report it as income.
Gifting kids via UTMA/UGMA is considered risky because the money is theirs at the age of maturity (generally 18 years). You gotta know your kid and you'd want to develop their money-management skills before they get to high school. Maybe even before they're teens.
I'll admit that there are good reasons to gift money to kids. But you gotta know your kid and make sure that they have the money-management skills before they start lighting $100 bills on fire.
You can contribute much more per year to a 529 account, and that's not considered gifting. It's also less risky because they don't "own" the money at maturity and you can change the account's beneficiary. There may be state tax benefits to contributing to a 529, but paying for college is much more complicated than just 529 contributions. If you can transfer GI Bill benefits to a kid then I'd hesitate to fund a 529 account.