Two day old boxers umbilical cord bleeding?

My baby boxers were born yesterday. Today one of the little boys umbilical cord is bleeding at the place where it connects to the tummy. Mommy will not stop licking and pulling at the cord(she is a compulsive licker as it is). What can I do to help the mommy quit licking without hurting her or puppies. The vet says that iodine helps in the drying process but we are afraid of an allergic reaction of either mommy or babies. I could put some neosporin on it but i'm afraid this might make her lick more being something foreign on her babies. Need help!!!