Hi S., I didn't have as severe problems with my son biting, but I'll tell you what I did. When he starting biting me during breastfeeding I'd pull the edge of his mouth back and put my finger in his mouth to break the suction. I'd get him off my breast, give him a "no no" look and sternly say, "No biting!" Then I'd put him down, re-fasten my bra, pull my shirt down, and walk away or turn away from him to give the message that nursing was over. And I wouldn't nurse him until his next feeding (but he was also eating some solids so if he cried for food I refused the breastmilk but could give him a snack). After a few repetitions of this, he quit biting.
Also, I should be honest and point out that he didn't entirely stop biting. He'd give it a try once in a while, but I remained firm and consistent. He tries it once in awhile.
I tried yelling in pain and things like that, but he just laughed at me and starting biting more to make me repeat the funny actions. But you can try it and see if it works for your daughter.
I feel so bad for you that your nipples are cracked and bleeding. That's really painful. When my son was born he couldn't latch on correctly and I was bleeding and cracked, too. That was so hard to persist through. Have you tried Lansinoh? Ack, I can't remember what it's called right now...not breast cream... Anyway, it's stuff that you put on your nipples after the baby breastfeeds. It helps some of the misery to fade (not all of it). Also, just so you know, when you bathe or shower, don't let soap get on your nipples because it dries them out and that contributes to the pain.
It's up to you whether or not to stop breastfeeding. IMO, I think once you get past this teething thing, it will go much more smoothly. If possible, find a lactation consultant. They might be able to help you with the latching on so that your daughter can't bite you. Her tongue should be covering her teeth while she's nursing (so she shouldn't be biting). I met with a lactation consultant through WIC when my son was born and he's still breastfeeding at 16 months old. Do let us know how it goes and good luck!!!