I found one that cancels the autonomous punishments, but im looking for something that affects children and toddlers. Specially the tantrums of the latter. Preferably a "time out" for them to calm down/end their crying. Some light punishments so they dont get spoiled. Anyone know of any?

I use a punishment tweak by Icarus Allsorts that stops autonomous punishment and instead give you a pop-up asking if you want to punish a misbehaving sim. There is also an option to punish a sim any time you like. So you can be a tyrant if you want. lol (You're even allowed to punish visiting children.) Unfortunately, it's only for children and teens. You still can't punish toddlers which I find annoying. (Those temper tantrums they randomly throw are so irritating.)
http://modthesims.info/d/533906

I'm interested if anyone else knows of a time out mod available for toddlers.

Oh thats an interesting mod nice find man. I agree with you on the toddlers part, I hope it can be tweaked to include them. They really shouldnt be crying over not having their fun need met, maybe a future update? Hm, Ive only ever added Nraas mods before and those were simple copy and paste package files to the mods folder, wonder if downloading from here is just as easy