Sorry for the delay in a response--I didn't see your post until yesterday!!
I think if you lay it all out, you can make this work :). One of the great parts of Daily 5 is that it is laid out in "rounds", and doesn't all have to be done during the same block of time.
I just want to check your times--a decoding block for 60 min? Does that include some Work on Writing, as well? Could you also include sight word practice in that time slot?
For you 60 minutes of reading, is that when you do small group instruction? What are all the other kids doing? Can this be their Read to Self, Read to Someone, Listening to Reading time?
During Fluency, could they again work on sight word fluency and rereading familiar books from their book boxes.
If the above assumptions are correct, you could plan your mini-lessons to focus on specific strategies in those areas.
I would certainly break up the 60 min periods for first graders, if not more than a simple check-in and refocus.
Does any of this help? Hope so. If you "lay out" a blueprint of what your day would look like, it may help see how you can fit all those pieces together.
Send more questions, if you have some.