Indeed it is! Took me quite some time to beat it.
The basic strategy for 377 is to get a prize bubble as quickly as possible, then use that prize bubble (which is a fireball) to save a baby AND simultaneously pick up the next prize bubble.
Keep in mind that a fireball bubble has a blow-up depth of 2 bubbles.
As for the star bubbles, you are better off using them on a color that the bubble blowers have recently blown, because they too are on rotation. So that means if they just threw out a green bubble, you're safer to eliminate the green because it's now at the end of their cycle.
That said, the colors you eliminate will come back a few times in this level, because as you scroll up they are on top of the pyramids, so they re-enter the bubble blowers cycle.