This plot outline happens in real time.
Ed O'Neill breaks the fourth wall by looking at the camera and stating that he hates the following commercial.
Whenever the D'Arcy's enter and leave the Bundy house, the music that is being played at the D'Arcy's Christmas party, is the same music that is played in the episode "It's A Bundyful Life" (S4E11), when Al goes to the bank to get his Christmas present money and discovers the bank is closed for a holiday party, which Marcy is dancing and wearing a Santa hat in. Coincidentally, the name of that episode ("It's A Bundyful Life") is a play on the title of the holiday classic film "It's A Wonderful Life" (1946), which Al repeatedly states he hates that film in this episode.
Peggy (Katey Sagal) references Suzanne Pleshette. Roughly 10 years later, Pleshette would play Sagal's mother on 8 Simple Rules