Help!! Name calling is driving me CRAZY

[MT Momma]

Help please!

My 4.5yo and almost 3yo are name calling both to each other (which they think is hilarious) and also to me. In the past when this happened I ignored it. If they did it 3 times after being counted, they went to time out and it was over and done...but now they are cracking each other up so they are always getting approval feedback from each other :Banghead:

And it DOESN'T STOP...ALL DAY LONG!

I can't effectively tell one to stop laughing at the other...that just brings on the nervous laughter, and ignoring it doesn't work anymore since they are trying to one-up each other.

Please, any words of wisdom, or BTDT advice?? Thank you thank you thank you!!!