I'm also 5ft 2, size 8-10, long body, shortish legs, heavyish thighs. I resisted skinnies for ages, but am a total convert since this time last year, having been a boot leg girl for years.
If my top is long it makes my legs look super short, so I tend to wear tops that although definitely cover any midriff, are not longer than my crotch. My upper body is so long that I sometimes get tops for layering from the "tall" sections. If you have longer legs then a tunic type top is nice, but then you might as well be wearing jeggings which are more comfy, though unsightly on tummy/ bum/ camel toe.
WRT baggy or tight, I think its personal preference. As a petite person, I feel swamped by baggy and I think it does nothing for my best bits, so tend to wear closer fitting things. My favourite at the moment is blue skinnies from miss selfridge with long sleeved round neck tee from dorothy perkins and hoodie form boys section at h&m, with black fit flop blizz boots for running around after toddler. If I want to be smarter I wear with black cashmere cardigan and long black boots.
Usual thing though, if you have a good arse and thighs (and lots of skinny jeans will make these look great if they are naturally half way decent), you can get away with anything.