I don't think you are doing anything wrong - you've got a little one just like mine, who is too excited about life to sleep! I have experienced the exact scenario you described more times than I care to remember. What we have started doing is turning off all the lights in the house (ds actually does this while I carry him around as part of our routine - if he doesn't turn it off then I do), and then go into the bedroom and lay down to nurse. If he wants to crawl off the bed and leave the room, I let him. The house is totally dark, so he usually just stands in the hallway for a moment, and then eventually comes back and climbs up into bed. Dh and I just lay there in the dark bedroom waiting for him. This doesn't mean he will go to sleep really quickly, but it at least stops the up and down from the bed, and the struggle to go out of the bedroom and play.
And if I am just at my end and can't take the nursing, twisting, flailing anymore, dh will take ds for a drive to get him to sleep, just to give me a break.
Hang in there!