Can we make it - the Eurostar arrives at St. Pancras in London at 7:58am, and our plane leaves Heathrow at 12:00 Noon.
Provided everything is running on time, that should be plenty of time.
Are you planning to take the Tube to the airport? Trains from the King's Cross St. Pancras Underground station to Heathrow on the Piccadilly Line run every ten minutes and the trip takes just under an hour. It will take you a few minutes to walk from St. Pancras International to the Underground station and you'll also have to allow time to get from the station at Heathrow to your departure terminal. Assuming that you'll be flyng home, your airline may want you to check in three hours in advance--and you won't be able to make that. If your Eurostar train is on time, you'll be able to meet a two-hour check-in deadline at Heathrow; but Heathrow is chaotic enough that I'd be a lot more comfortable with a three-hour margin for a cross-the-Atlantic flight.
You could cut your travel time to Heathrow by about 20 minutes if you took the Tube to Paddington and the Heathrow Express from there to the airport. That would get you to Heathrow about three hours before your departure.