The US is a major problem here since they won't tolerate a competitor for hegemony in the Western Hemisphere. I'd suggest a successful CSA to nerf them, but I am so sick to death of successful CSA's in alternate history that I can't recommend doing yet another (I swear to god, if it's not the biggest AH cliche out there, it's at least in the top three...and they all ignore the myriad economic, social and political problems that relegate a viable Confederate nation-state to the realm of ASB). Instead of that, I'd suggest a close examination of US involvement in Latin America (I'm no expert on the early years, I'm afraid), to see whether it can be diminished or diverted elsewhere, or else whether the USA and Mexico can reach an understanding regarding spheres of influence, leaving Mexico to deal with Guatamala and whatever else you had in mind. That actually seems a bit more interesting than just "Ameriscrew, and see who's left to pick up the pieces!"
As for Britain...meh, there's plenty of other stuff they can be distracted with. Have the Ottoman Empire fall to pieces for some reason or another, and half of Europe will spend the next few decades trying to sort everything out. That'll keep Latin American affairs as a tertiary concern in London, at best.