Monument avenue is the road with all the statues. Very good to see, but it will really only take about 10 minutes, you can't really get out of the car to look at them.
Chincoteague is way cool but about 5 hours outside of Richmond. Just so you are prepared for the drive.
Outside of James town are the Carrot Tree
Bakeryhttp://www.carrotmuseum.co.uk/ctree.html in a precious little line of shops where you can get carrot cake that is better than anything you have EVER had before. Very close to that is also the James River pie company. They make pizza and Pecan pie for takeout. Wonderful! For lunch, when not dining at Kings arms, go to Old Chickahominy house
http://oldchickahominy.com/
Be sure to read the Felicity American Girls books and her cookbooks so you will know what to order at the Kings Arms tavern.
At night in Colonial Williamsburg, go to Chownings Tavern
http://www.colonialwilliamsburg.com/visit/diningExperience/chownings/ (pronounced chewnings) The kids can go too. You sit at a table with strangers, order snacky foods and talk. Historical interpreters walk around and teach colonial games, sing colonial songs, play instruments and entertain the guests. There will be a line to get in, but it is well worth the wait! Remember, you can go to any restaurant or shop in colonial williamsburg without buying a ticket. They do strictly enforce parking times and you will get a ticket if you park too long. Park in the parking garage so you won't have to worry. It obviously costs more than free parking, but they have police patroling the free lots all day marking tires and giving tickets.
They have colonial williamsburg ghost tours which is usually a fun way to teach the kids history, but we didn't enjoy the ones in williamsburg. Don't waste your money. You can tour william and Mary for free and see the current students taking classes in historic buildings. Be sure to see the sunken gardens there. That is what people will ask the kids about when you go back home. Glen Close, John Stewart, and many US presidents were educated at William and Mary. It is called a "public ivy league" school. You can often see Bruce Hornsby walking around campus. Colonial Williamsburg is very beautiful, but not as safe as it looks or seems. Be careful at night. If you walk with a group and stay in well lit areas you should be fine.
While you are in Richmond, have dinner or lunch at least once at a Ukrops grocery store. They are a very big deal to richmmonders.
On the drive from Richmond to Williamsburg , right before the williamsburg exit, you will see Pierces Pitt Barbecue
http://www.pierces.com/ You must stop here! People drive for HOURS to go here! They even catered my wedding! It looks like a biker hang out, but is very nice inside. Order BBQ sandwiches and Hush puppies. This is Virginia Barbecue.
If you take the Jamestown ferry (right next to Jamestown, the ferry transports you and your car) to surry
http://www.toursurryva.com/
You can see the site of Bacon's rebellion and go to Chippokes state park. In Surry there are still cotton farms where you can pull the car over and see the cotton growing.
Be sure to try Virginia Peanuts at some point during your stay!