I've tried it a handful of times and can't get past Chapter 3 Act 2. I'm probably just bad at the game tbh but some sort of guidance would help i think. 

First: do it in the loop, you have better chance to be good equiped on a loop that a normal run

Second: try to get the next babys and items:

Babys:

Spike baby

Cube of meat

Imp baby

Offensive baby, for preference abel

Items:

Sanguine bond

Isaac fork

The gift

If you are lucky, the gift can give you the imp baby, that cost no hearths, use the Isaac fork for get hearths via killing enemies whit the spikes (thats why sanguine bond, as meat cube only cost 50 hearths, and the normal spikes 125), and use Abel for cover 2 lines whit one