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Background: I am a URM. I currently live in TX, am married, and have a young child (if that matters in this equation). I've been out of undergrad for almost 10 years at this point, and I've taken the LSAT 3 times so retake isn't really an option. Got some savings and wife will take care of living expenses.

Career goals: Big Law and eventually GC at a large/medium sized company in TX.

The options:
UVA at sticker.
UT with $10,000/yr. Scholarship (I would like to negotiate, but I don't have much leverage).

Applied and accepted to UH, but didn't get much money there. Didn't apply to any other t15-25s because I knew I wouldn't attend. (In hindsight that was probably a mistake.)

I like Austin and the price of UT. Plus the idea of staying in Texas and not having to uproot my family is also a plus.

Does staying in TX and having the ability to tap into the UT network seem like a fair tradeoff for the dimished Big Law prospects?

Yes. Based on the information you've given, the nearly 100k+ in savings is worth it in my mind. Just do well. I know that's hard to predict, but in my experience at UT, the more seasoned students (career experience, families) tend to do very well. Plus, your goal is TX, so I don't see the advantage that UVA has for you, other than an increased of BIgLaw in NYC/DC, government gigs