Two Regimens of Combination Chemotherapy in Treating Younger Patients With Newly Diagnosed Localized Ewing Sarcoma Family of Tumors

Inclusion Criteria:

* Diagnosis of extracranial Ewing sarcoma or peripheral primitive neuroectodermal tumor of bone or soft tissue:

  * Newly diagnosed disease
  * Disease confirmed by biopsy only with no attempt at complete or partial resection

    * Unplanned excision allowed provided adequate imaging was obtained prior to surgery and incompletely resected disease is controlled by local therapy
  * No esthesioneuroblastoma
* Localized disease, including any of the following sites:

  * Chest wall tumors with ipsilateral pleural effusions, ipsilateral positive pleural fluid cytology, or ipsilateral pleural based secondary tumor nodules;

    * No contralateral pleural effusions or pleural nodules
  * Regional lymph nodes that are clinically suspicious or confirmed by biopsy

    * No distant lymph node metastases
  * Extra-dural tumors arising in the bony skull

    * No tumors arising in the intra-dural soft tissue or the intra-dural region of the spine
* No evidence of metastatic disease, defined as any of the following:

  * Lesions that are discontinuous from the primary tumor
  * Lesions that are not regional lymph nodes
  * Lesions that do not share a body cavity with the primary tumor
* No evidence by CT scan of metastatic lung disease, defined as any of the following:

  * One pulmonary nodule \> 1 cm in diameter or more than one nodule \> 0.5 cm diameter

    * Pulmonary nodules that are resected and are not found to be metastatic Ewing sarcoma are allowed
  * Biopsy proven solitary nodules measuring 0.5 to 1.0 cm or multiple nodules measuring 0.3 to 0.5 cm

    * Solitary nodules measuring \< 0.5 cm or multiple nodules measuring \< 0.3 cm are allowed unless biopsy proven to be metastatic (biopsy is not required)
* Karnofsky performance status (PS) 0-2 (\>= 16 years old) OR Lansky PS 0-2 (\< 16 years old)
* Creatinine clearance or radioisotope glomerular filtration rate ≥ 70 mL/min OR serum creatinine based on age/gender as follows:

  * 1 month to \< 6 months old (males and females 0.4 mg/dL)
  * 6 months to \< 1 year old (males and females 0.5 mg/dL)
  * 1 to \< 2 years old (males and females 0.6 mg/dL)
  * 2 to \< 6 years old (males and females 0.8 mg/dL)
  * 6 to \< 10 years old (males and females 1.0 mg/dL)
  * 10 to \< 13 years old (males and females 1.2 mg/dL)
  * 13 to \< 16 years old (males 1.5 mg/dL and females 1.4 mg/dL)
  * \>= 16 years old (males 1.7 mg/dL and females 1.4 mg/dL)
* AST or ALT \< 2.5 times ULN for age
* Total bilirubin =\< 1.5 times upper limit of normal (ULN) for age
* Shortening fraction of \>= 27% by ECHO or ejection fraction of \>= 50% by radionuclide angiogram (MUGA)
* Not pregnant or nursing
* Negative pregnancy test
* Fertile patients must use effective contraception
* No prior chemotherapy or radiotherapy
* No concurrent pegfilgrastim (Neulasta) or sargramostim (GM-CSF)
* No other concurrent cancer chemotherapy or immunomodulating agents, including steroids, unless used as an antiemetic