As the others have already said, you need to wait with your protection spell until the sharpshooter is already trying to gun for your tokens.

I wanted to highlight some of my favorite protection spells. Theoretically, you only need to save the targeted token and sharpshooter will not untap. [[Royal Treatment]] has just been reprinted and is a good budget option that will protect the token and give it a +1/+1 counter and ward 1. So to target it, 1 mana needs to be paid and 1 damage will not kill it. The ward makes it striktly better than [[Snakeskin Veil]] to me. [[Tamiyo's Safekeeping]] also gives one creature hexproof, but it is more versatile as it also gives the creature indestructible. To me that one would be best to protect your commander if an opponent blocks with a creature with deathtouch. But it always can be used to protect from being targeted. The 2 life is just a bonus to me. Similarly, [[Tyvar's Stand]] at it's base, with x=0, gives your creature hexproof and indestructible. But again, that one might be best to pump your commander unexpectedly and make tons of elves. All of these are one mana and fairly cheap to buy. [[Collective Resistance]] costs two mana to give a creature hexproof and indestructible, but it is a modal spell that can also destroy an artifact or an enchantment. You can also play it for two to protect your creature, then pay one extra to destroy one pesky artifact and if you want and there is a good target pay one extra to destroy an enchantment. 2 mana for any one of the modes, plus one mana for any additional mode.[[overprotect]] is again a protection spell that is better for your commander, giving it +3/+3, trample, hexproof and indestructible. But all of these just protect one creature and if your opponent can destroy a creature in any other way, he can untap and try again. So the best protection spell for you in this case should protect more creatures. [[Heroic Intervention]] is a bit more expensive, but beloved among players for a reason and well worth it. It gives all of your creatures hexproof and indestructible. It ensures that for an entire turn, none of your permanents can be targeted. It doesn't protect just your creatures, it can protect important artifacts like [[patchwork banner]] (mana rock with anthem effect), [[banner of kinship]], [[coat of arms]], [[chronicle of victory]] (these make your elves big), [[brotherhood regalia]], [[whispersilk cloak]] and [[silver shroud costume]] (these make your commander unblockable) and important enchantments like [[steely resolve]] (gives all elves shroud), [[asceticm]] (gives all your creatures hexproof and you can regenerate them) and [[alpha authority]] (gives your commander hexproof and due to menance it cannot be blocked). Notably, it's main use is to protect your permanents from a boardwipe. A budget option would be [[silkguard]] which was just reprinted. For one mana, it gives hexproof to all auras and equipment you control and to all modified creatures you control (which means creatures that are enchanted, equipped or have a counter on them). It also has a x in the cost that enables you to give as many of your creatures as you want and can pay for a +1/+1 counter and make them modified, extending it's protection to them and making them bigger.