Already made one trip to Chaco Canyon a couple of weeks ago and headed to Red Rocks State Park Balloon Ralley the weekend after T-day (December 3/4).
I posted the Red Rocks as a suggestion.
http://www.tnttt.com/viewtopic.php?t=41175
As far as where to do a one night stay in ABQ..... don't really know the hotel/motels well. But if you don't mind a little dive like place that is clean and in a fun part of ABQ I would say stay at the Highway House in the Nob Hill area. It is an old Route 66 motel still going on Central and you can walk to all the Nob Hill and UNM campus area restaurants, bars, and shops.