The Christmas / New Year holiday season is high season at many Mexican beach resorts including Cancun. Many Mexican families, whose children are on school vacation, like to make trips to the coast during the time between Christmas and New Years and of course the resorts remain favorites of foreign visitors.
Airfares USA <=> Mexico during this period also trend higher because of an increase of families between the two nations making the trek to visit relatives for the holidays. If you want particular dates of travel, you and your guests had best plan reservations well in advance of late December/early January travel. For example we usually make our flight reservations in August whenever we plan Christmas travel to Mexico. If the fare goes down (hah!) we refare the ticket.
Don't forget to make sure that your potential guests who are US citizens flying to Cancun will need a US Passport. If they don't have one already they need to factor that cost into the expense of attending your wedding.