I don't think such an "arrangement" could ever be made. Think about it, Ali's herd (or the like) passing nearby the Great Valley to be attacked by Chomper's parents. We do not really talk of a case of petty political correctness here but (nature's design that it is) about the killing of dinosaurs.
It has always struck me as a little odd that Littlefoot, after all he has gone through in the original movie, seems to be so absolutely without any reservations whatsoever on this matter. I think it would make for some interesting elements and possible character development if he did not forget so entirely and completely about his mom in the presence of Chomper. I do not think that Littlefoot (or any of the others) could with an easy consciousness condemn others to the same fate as Littlefoot and his mom.
I have often thought about a story about food running out on the LBT 5 island, Chomper sending kind of a "goodbye message" to the Valley (through a flyer he captured but spared in exchange for that flyer carrying the message to Littlefoot), and Littlefoot and the others ending up on the horns of a dilemma when considering when they have to decide between letting a friend and his parents die and condemning many more others to death by helping them. With this being a dilemma to harsh to solve (and with little that the Gang could do on behalf of Chomper's large parents) something beyond the control of the characters (e.g. water receding before the onrush of a tidal way thus opening up a temporary route of escape from the island) would make the question obsolete before it was answered.
PS: As for tolerating two grownup sharpteeth in the Valley I would love to see how Cera's father would be convinced of that one
I would have really loved to see him (and to a lesser degree the other grownups too) being told about Chomper and letting him stay in the Valley.