...In some Aikido training, it is taught that if an attacker punches in, to grasp the arm, and create moves to get the attacker off balance, and place the attacker on the mat.
The wrist lock dance would be a substitute for placing the attacker on the mat. The wrist-lock would be maintained by the victim changing footwork positioning, and only applying enough force at the wrist, to prevent the attacker from breaking loose, or from striking with the other hand.
When it seems the attacker has been defused, the victim may release the attacker from the wrist-lock, and prepare for envisioning another step aside, block and wrist-lock, if the attacker attempts to hit the victim again.
Thomas you seem kinda ... gullible.
What you have described is a situation which will almost never exist.
You yourself should never teach wristlocks (in my opinion) since you display less than zero knowledge of their realistic application. (Adult or child)
If I sound harsh that's because to mollycoddle you could (is likely to) get your 'students' into broken nose territory. I'd rather that didn't happen.