Possibilities:-
They had lived in Baligown at one time but were not settled there when the Baptism took place ,presumably that was somewhere else.
Perhaps they were “ travellers” of no settled abode.
Many possibilities for D.I.P.
Possibly Latin.H
However the parents do not seem to have been married , so perhaps something to do with that.
Best of luck .Viktoria.
Do you know if the baby survived as D.I.P can be used as Dormit In Pace —
Rest in Peace.
V.