Exactly right. The hard part for most people is waiting and doing nothing. With a really amped up dog, it may...seriously...take 15 or 20 minutes the first few times. That seems like an hour when you're just standing there. If a dog is getting more cranked up waiting, you didn't wait long enough. They will eventually settle. The critical thing is to do nothing and say nothing (unless the dog breaks). It absolutely will work. The vast majority of people don't have the patience to do it.
Anytime a dog has to figure out how to get what it wants and is rewarded for the correct, relaxed response, it will repeat the behavior and learn far more quickly than when we're doing all sorts of manipulating.
I worked with a dog at a seminar that had a bad "bark and spin" issue on blinds. It took what seemed like forever for the dog...a high roller...to give up, sit and relax the first time or two. It got a lot better really quickly after that. But it takes patience, patience and more patience.