So here's what I'm gonna do: I'm going to do half-and-half of your ideas, while still incorporating my own, by using the regular hold-down-B-and-release spin; that way, it's similar to a chain smash(i.e. the same hitboxes), it's his energy field(but without the actual energy, because that really should stick as the FS, since it's way too op to be a regular move), and it will also reference the game a good amount.
P.S. The part with Midna being fused with the shadow pieces is actually solely a Midna thing; it doesn't even relate to Wolf Link. That, and in the far, far distant future I'll also make a Midna moveset, where that will actually be her FS.(And yes, this version of Midna will be Wolf Link independent)