I think the key point that you're missing is that as soon as you make a measurement, the entanglement between the two particles is broken. It should also be noted that the original particle also obeyed the uncertainty principle, and that at a quantum level there is no direct relationship between position, momentum and time.
Another confusing factor is that you haven't specified what is actually causing the entanglement. One possibility is that it is because the particles can be shot off in any direction, but one particle must go in the opposite direction to the other; that's both boring and difficult to think about, because the entangled part of the uncertainty in the position is perpendicular to the direction of travel. So I'm going to examine the one-dimensional case; we can create entanglement by making the energy of the original particle uncertain. In this case, we don't know what momentum the particles have relative to the center of mass, but we do know that they are equal.
If you make the position measurement (on the electron) first:
the uncertainty about the position of the electron becomes arbitrarily small;
the momentum of the electron changes, with the uncertainty becomes correspondingly large;
the uncertainty about the position of the positron becomes smaller, but not arbitrarily so;
the uncertainty about the momentum of the positron also becomes smaller (because it is correlated with the energy of the original particle, and hence with the position of the electron) but not arbitrarily small.
It may be helpful to imagine that the remaining uncertainty in the position of the positron is because of the uncertainty of the position of the original particle, though this is not entirely accurate - the uncertainty of the position of the original particle does affect the uncertainty of the position of the positron after measuring the electron position, but the relationship isn't as straightforward as that.
However, even though we haven't actually calculated exactly what the wavefunction looks like, we can guarantee that the uncertainty principle holds, simply because it is true for any wavefunction, no matter how constructed.
Also, since the entanglement between the particles is broken by the position measurement, when we then measure the momentum of the positron:
nothing happens to the electron or our knowledge of it;
our uncertainty about the momentum of the positron becomes arbitrary low;
the position of the positron is changed, and the uncertainty becomes correspondingly high.
If, on the other hand, we made the momentum measurement (on the positron) first:
the uncertainty about the momentum of the positron becomes arbitrarily small;
the position of the positron changes, with the uncertainty becoming correspondingly large;
the uncertainty about the momentum of the electron becomes smaller, but not arbitrarily so;
the uncertainty about the position of the electron becomes smaller (because it is correlated with the energy of the original particle, and hence with the momentum of the positron) but not arbitrarily so.
And, as before, the entanglement is broken, so when we then measure the position of the electron nothing happens to the positron or our knowledge of it.
What if you make the measurements at the same time? Well, that would be complicated to analyze, but we can cheat by calculating the results in a different frame of reference, one in which the measurements did not occur at the same time. It so happens that the results of QM never depend on the reference frame, so we can be sure that this produces the right result.
(OK, the fact that in the real world the measurements take a finite time messes this up, unless you do them sufficiently far apart. At that point you would really have to model the exact behaviour of both measurement devices to figure out exactly what happens. But the end result will be the same: the particles are no longer entangled, and the wavefunction always obeys the uncertainty principle.)