In this paper, we propose a framework for cross-layer optimization to ensure ultra-high reliability and ultra-low latency in radio access networks, where both transmission delay and queueing delay are considered. With short transmission time, the blocklength of channel codes is finite, and the Shannon capacity cannot be used to characterize the maximal achievable rate with given transmission error probability. With randomly arrived packets, some packets may violate the queueing delay. Moreover, since the queueing delay is shorter than the channel coherence time in typical scenarios, the required transmit power to guarantee the queueing delay and transmission error probability will become unbounded even with spatial diversity. To ensure the required quality-of-service (QoS) with finite transmit power, a proactive packet dropping mechanism is introduced. Then, the overall packet loss probability includes transmission error probability , queueing delay violation probability , and packet dropping probability . We optimize the packet dropping policy, power allocation policy, and bandwidth allocation policy to minimize the transmit power under the QoS constraint. The optimal solution is obtained, which depends on both channel and queue state information. Simulation and numerical results validate our analysis, and show that setting the three packet loss probabilities as equal causes marginal power loss.