Of course waiting until the storm calms down, i.e. when he becomes an old dog that has lived through its energy seems for most as the most humane solution but I say giving your pup back the same attitude is much more difficult but can produce much sooner results.

In the end this is what dogs do in the park when approached by the dog that is more energetic and dominant. They either submit and go on their back and hope for the least or tail under and try run/hide away and/or near the owner or go on the back legs to appear taller and snap back.

I am sorry my reply does not give you a suggestion because I do not know what is acceptable for you but give us a clue of what lengths are you prepared to go to stop your dog nipping your feet, etc.

Some say its disrespect to you and a sign of dominance, some say its just a puppy playing and each one addresses it differently. If you believe dominant, then act back like a more dominant one, if believing puppy playing then distract it with an alternative.

But as far as I have learned, animals do not play but exercise their instincts for the future survival and there is no better alternative than exercising their survival technique on a weaker pack member.