As long as you and your wife are raising your daughter exclusively as a Jew, and do not celebrate Christmas in your own home, spending Christmas with your in-laws can certainly be done, as long as it is handled properly. Just as Christians can share in a Passover Seder with the Jewish side of the family without it being THEIR holiday, Jews can share in Christmas with the Christian side of the family without it being THEIR holiday.
The real issue is what you mean by "exposing" your daughter to Christianity. Children who are given "exposures" to both traditions so that they can choose later are not considered Jewish. They are also put into the difficult position of having to choose between what they know deep down will please daddy and disappoint mommy, or vice versa.