I think this can be a great choice, and it's what my now-ex-wife and I decided to do. So while I'm in favor of this approach, here's my cautionary tale that touches on ugly things you're likely not even thinking about.
We planned to do exactly what you are planning: I would continue to work with the higher income, while she would stay home to raise kids until they were school age. It turned into a total cluster f***. Over the first few years, my ex got completely wrapped up in the stay-at-home-mom (SAHM) thing, lost her identity as a person outside of motherhood, and when they approached school age, it was apparent my ex had no interest in returning to the work force. Who could blame her? From her perspective, she was FIRE! Unfortunately she spent large parts of her days watching Oprah, Dr. Phil, and socializing/complaining/competing with other SAHMs. In short, I think it made her lazy and heaped on a big sense of entitlement that ultimately became probably the biggest factor in our resulting divorce.
I think this outcome is completely dependent on the individuals involved. Your wife could adopt this new lifestyle in only the most positive ways, as many/most do. I just offer it as something to watch out for if you go this path -- I though my wife would adopt it in positive ways too.
Oh, and when two parents divorce where one is working and the other is staying home to raise children, it sets up a huge disadvantage for the working/earning parent (particularly if that person is the father):
1. Family law courts will be extremely reluctant to change that arrangement after the divorce. Meaning, they will almost always decide that working dad should continue to work, and mom should continue to stay home raising kids if she wants. The last thing courts want to do is introduce further disruption into the childrens' lives. But the working dad will have to support two households through alimony and child support, potentially until the children are all 18 or older. Alimony can continue until your ex-wife dies in some cases, computed with her income of zero, forever (I didn't have to pay alimony forever, but it happens in long marriages). And assets will be split evenly, it won't matter who "earned" them -- you both contributed through your separate roles in the family. You could mitigate all of this with a written post-nuptial agreement, stating what will happen if you divorce and your wife is staying home to raise kids, but no doubt that would be an awkward discussion.
2. In many states, courts will also give very large preference in custody decisions to the stay-at-home mom, since by definition she is providing most of the daily care. You cannot mitigate this with any post-nuptial agreement, custody decisions cannot be made in that kind of agreement. And if the SAHM is aware of this advantage (her lawyer will be aware of it for sure), she can use this to extract additional $$$ in the settlement, assuming the working dad also wants at least partial custody.
I don't mean to be a downer, it's just something to be aware of as you consider and discuss things. In the unfortunate outcome of a divorce, the working parent is setting themselves up for huge disadvantages that can last a long time.