Rearing under saddle is a COMMON problem we come across in some of our rescues and training projects, No one seems to know how to deal with this properly then they label the horse dangerous and off it for $100.
We received a very nice Quarter Horse last spring with a bad rearing problem, He would throw enough of a fit to flip himself over if need be. If he wanted to go left down the trail and a rider made him go right he would rear, leap, launch, and FLY to make is point. No, tie downs do not work or even slow a rearing horse down. No
, egg over the head has never worked for me, My rearing horses are too smart to fall for that
no amount of anything done from the saddle works either. My best advice is to try discipline from the saddle first, Circles. Circle, circle, circle. When our boy thought he was going to throw a fit we'd rip his face around and demand he do harsh circles. Another option, a sometimes safer option, is dis-mount (Just before or mid rear if possible) grab his face and back him up, circle him, and yell "Knock it off" or "Move your feet" in mean mommy voice. Everything must be done harsh and quick then say whoa, get on and continue. You are NOT "loosing" If you have to dismount and correct, get after, back up, lounge, lead etc... You are re-directing his attention and your asking a new task.
However your problem is not only with him rearing, His bolt toward home should be addressed first. Not only turn him around, but make him do circles, get after him! Maybe its time to either work with a trainer or send him out for a few weeks? He sounds like he is getting away with pretty naughty stunts.