Regardless of a/c type - FLY THE AIRCRAFT first. Get it to a safe altitude (400 common these days) and UNDER CONTROL, then deal with the problem. In most cases reduce thrust and if necessary, shut down the engine, or as stated in NN procedures for your company.
The most common problem seen in simulator training is the crew not following the basics of good airmanship. PF must fly the aircraft and PNF's primary responsibility is to monitor the flying. Carrying out drills/checklists/ECAM/EICAS procedures/ATC comms is all secondary to the monitoring duty. That's why many progressive-thinking companies/manufacturers have changed the PNF title to PM - pilot monitoring. Unfortunately, this thinking hasn't reached Toulouse yet!
She'll fly on one, so get her up to a safe altitude, deal with the essential emergency drills only, at low level, clean up, climb to MSA and then do the rest. It works every time. Oh, and don't forget you have an autopilot.