yurii_Kh,
 алгоритмов можно придумать много ...
calendar.onclick = function(event) {
    var target = event.target;
    while (target != this) {
        if (target.classList.contains('calendar-day')) {
            highlight(target);
            target.appendChild(div);
            break;
        }
        if (target.classList.contains('add-event-wrap')) {
            break;
        }
        target = target.parentNode;
    }
};