Watch the Alabama Jubilee online guitar lesson by Brooks Robertson from Essentials: Boom-Chick Fingerstyle Etudes
Just as you've seen with the other tunes we've been working on, the easiest way to play the bass, chords, and melody smoothly and simultaneously without having to jump all over the neck with your fretting hand is to hold down a single chord form that includes all the necessary notes. I try and do this whenever possible. This isn't cheating, in fact this is the most efficient and often easiest way to play common fingerstyle tunes. This minimum movement technique is used by many of the fingerstyle greats because it really works.
Once again, we're using a muffled and muted bass technique with the picking hand. As you watch and begin to learn to play the arrangement, notice the selection of which fingers I choose to pick a particular string with my right (picking) hand. This is the way which comes most naturally for me. You'll see I often assign one finger per string, however if you find it easier to use just the index and middle fingers, or just the index finger, etc. to play the melody across all the treble strings, by all means do what feels comfortable, making sure of course that you can still play the piece with accuracy and good feel.
Another important technique which is mentioned in this video is the use of left hand muting and muffling, so be sure to experiment with how it sounds and feels either muffling the strings a bit, or letting the notes sustain. Ultimately one way is not better than the other, they're just different techniques used to achieve a variation in tone, punctuation, and feel. You can be the final judge on how you play the piece, my suggestion is to try it a few different ways and see what sounds best to you. It's common to use multiple variations and combinations of these techniques to keep things sounding interesting.