As a farmer who has to repair many tires each year, I have tried both, and have learned the only "quick fix" that works for me is to plug a tire when it gets a nail hole in it. Valve stem leaks are one of the most difficult to stop. The reason? On most small tires, they use tubes inside of the tire. The actual tire then surrounds the inner tube and will mount on the rim and unless it is a bicycle tire with spokes piercing the rim, the tire will seal off the route of air escaping from the tube, so the only place left to escape is around the valve stem.
Most valve stem leaks are actually the result of tiny pin hole leaks caused from a inner tube that is deteriorating. So adding slime or fix a flat will potentially work for a short time, but the old inner tube continues to break down, and the slime and fix a flat escape from inside the tube to the space between tube and tire and ultimately onto the rim.
If you never intend to replace the tire or tube if the fix a flat or slime fail to work, then go ahead and try one, but that stuff is a nightmare to clean up if left too long.
For kids toys, I always try to get to the root of the failure if I value the overall toy. Saves time and money in the long run.