you gotta lap the flywheel taper to the crankshaft taper with valve grinding compound.
the tight taper fit, and proper nut torque, is what holds it from slipping, the woodruff key is just a locator for timing
A back yard way to hold the flywheel is to wrap a ratchet strap around it a few times and secure it somewhere to the frame away from the direction of travel of the wrench.