OP - You have several choices:
1. If you can find a better routing than what AA has offered, you should ask for that. They are fairly acommodating.
2. You may cancel for a full refund (not a credit, but a refund to your CC) and then book whatever you want (or not book at all).
3. You may accept what is offered. But, you are on the hook for a hotel. It is possible that your travel insurance may cover the hotel due to the schedule change, but you will need to read the policy terms very carefully as most policies would not.