hmm no advice on how to handle, and not much time as just making dinner, but i wanted to say that no, i don't think he is taking advantage per se, and i don't think you are babying him
for whatever reason, this is how he needs to cope with the things that life throws at him. if he is asking for a cuddle when he is upset it's because he NEEDS a cuddle when he is upset, and, like you say if you can get there asap then 10 mins is fine.. i don't think it's a problem for him to be getting upset like that, for you to comfort him like it, or for him to ask you to cofort him
however, i can see that it isn't always convenient and i don't think it would be wrong to try and help him find other ways of dealing with it. no ideas off top of my head but will try and pop back when have cleared a tub of lego off the table and comforted crying baby