Investigators say Dixon shot and killed her 5-year-old son and critically injured her 16-month-old son, who remains on life support.
Dixon reportedly called 911 on Saturday morning, saying she shot her children. Police say when they arrived at the two-story apartment complex on the 7200 block of Gramercy Place, Dixon was waving a gun around and shouting, "I've wasted my life," from her balcony.
Police were able to close in and arrest her.
Dixon is due to be arraigned on Oct. 26. Her bail was recommended at $3 million.
If convicted of all charges, Dixon faces multiple life sentences.