Moy, if you follow the advice of joebloggs all be OK
Both of you will apply for ILR at the same time and on the same form (if she is under 18 at the time)
Moy, Please take a look at the form so you will know what is required.
Once you have ILR and after the qualifying time, you can apply for citizenship for yourself and to REGISTER your daughter as British Citizen.
When your daughter is 18 she can apply for Naturalisation.
This form may help you understand better:-
http://www.ukba.homeoffice.gov.uk/si.../guide_mn1.pdf
The ILR is indefinite leave to remain. It does not have any expiry, it is Indefinite. It does not need to be renewed. Just be sure not to remain outside of UK for more than 2 years.
Hope this helps you.
PS. I told you not to drink too much Tuba He he he