A thumb tack or some kind of pointy object? Hmmm very interesting. Yes, I agree with you, smacking the student might cause further panic and keep their leg locked on the pedal. This pin idea is worth exploring. That just might do the trick. I wear a knee board all the time, so maybe I could put it on my kneeboard. Thanks for that idea, great information!
The hard part is how do I prepare students for this event? I used to go by the FAA's way from the FOI book by emphasizing the positive when prepping a student. For example, saying that 'easy on the controls makes better airplane response' instead of saying that 'easy on the controls prevents the airplane from getting away from you.'
But now I tell students to be nice and gentle and give up the controls when I say "I got it" or else I will
1. shout "I GOT IT!"
...and failing that...
2. do whatever I physically have to do (but a little more eloquently).
Granted prevention is the best medicine, so I reiterate that the student communicates honestly and openly about comfort levels which I feel reduces risk.
Alright, how should I be selling this to my students?

I don't want to scare folks off and lose money, but I do like being upfront and honest about how training will go from day one.
Once again, thanks to all