Practicly grew up there... I'd say Oak Creek... Slide rock, Cave Springs and Pine Flats are good campgrounds. Just north and west of Flagstaff there's a lava tube worth hiking. If you want touristy stuff, take the Pink Jeep tour by Broken Arrow trail out of Sedona unless you have 4x4 then just go wheel the Broken Arrow trail. There's a few vortexes to hike to, Fays Canyon, Devils Bridge, Courthouse are all good hikes. All depends on what you wanna do... Lots of good bed n breakfasts to stay at there. Trout farm to take kids fishing. The only McDonalds in the world without the "Golden Arches" is in Sedona. They're turquoise. Oak Creek brewery if you get thirsty for a craft beer. Jerome is close by and certainly worth checking out. So is Montezuma's Castle in Camp Verde, AZ.
For hiking, check out the West Fork of Oak Creek. You could always bag Mt humphries - easy drive from Sedona and a nice hike.