In my opinion, I think you should go to college and not stay at home with your 2 year old. This is because when you study and finish college with good grades, your chances of getting a good job is high. After you get the job then you can provide your kid with what he or she needs.
Is there no way you can do both? Online courses or part time college? I have a 2yr old & I couldn't leave him for anything. I understand that you want an education but you have a baby & you need to work around your child not make your baby fit into what you want to do.
You have done a great thing giving your child a secure base for the last two years. The first three years of a child's life are really an important time of learning and development. If you can afford to stay home for another year I would. In my opinion going to school to better your future job opportunities would only benefit you both in the long run and give you greater self esteem, so definitely plan ahead. Your children are only little once, so if you can financially manage take advantage of these yearly years.