Certified GKH Gardening Expert
Make sure you are allowing the soil to dry out between waterings.
Root Rot will take place if over watered or if the plant sits in soggy soil.
The pups of a Ponytail Palm can be easily removed and repotted into new pots.
If you have cut the stalk of the main plant and it is showing signs of stress it may be to late to save your plant.
Cutting down the main stalk is not recommended for this plant.
Here are some links to refresh you on the care requirements.