WMA caps combats to three rounds (i.e. atleast one round of combat and then 2 rounds of pursuit or 1 advance). Maxing out at three rounds might give you a slight speed bump, but more than that it also reduces the length of your/your opponents turn. The game always seems more fun when you're charging, as opposed to be charged.
To take that idea one step further, you can say each unit may only have three orders and combats, total. In other words, a unit can:
1) Get three orders
2) Get three orders and fight one round of combat
3) Get two orders and fight two rounds of combat
4) Get one order/initiative charge and fight three rounds of combat
Tracking that might get wonky, you'd likely need some tokens to remember which order/combat round a unit was on. Then there's some timing issues that would need to be addressed (being drawn in, a unit on its third round advancing into a combat where a friendly unit is on its first, etc).
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One the one round of combat idea, you could mitigate the enemy sneaking around you getting auto-destroyed by being driven back into them by limiting each unit to one order. Flyers would still be a problem though.
Another thing you can do is allow the winner of a single round of combat to choose to pursue, and count the bonuses normally in the opponents turn. In other words:
My elves charge your orcs and win by 3.
The Orcs fallback 3.
If it looks like you won't be able to get behind them in your command phase I can choose to pursue.
You do your command phase, getting one order per unit.
In the combat phase we resolve the combat from last turn. My elves get +2 dice each (pursuit and 3cm of fallback).
