I'm not worried. There's a train you can take between Milan and Frankfurt if needed. Also, flights between those cities must be common, so even if yours is cancelled, you have good odds on getting rebooked on a different flight.
I mentioned in another thread, DD's flight to Europe was canceled (Swiss) and she was rebooked on Lufthansa with no issues.
There might be issues in Europe with domestic flights, but with airline regulation, I suspect at most you'll be delayed with some inconvenience (worst case).
Just look at it as an adventure. If you're not in a hurry, then you can easily find alternatives and eventually you'll get home.
I'm flying in June. Delta for the long-haul parts, Air France and Easyjet in Europe. The latter is more of a concern, but I can always take a 12 hour train vs 1 hour flight to make it work. Although not ideal, I'm not in hurry and if it happens, I'll make the best of it.