I've been pondering the "i dont feel locked in" and "i'm putting a bunch of weight on the inside peg" problem with body positioning. What a rider does with their outside foot can generate a locked in feeling, or a feeling of falling off.
I've found that consciously pivoting the outside foot toes out/heel in will drive your knee/thigh into the tank and provide a much more stable platform for hanging off on the other side. To the point where I absolutely dont need to use my arms at all for any stabilization.
of course I didn't "invent" this. Or even discover it. But I hadn't seen it in books or class before.
This will be bike and rider dependent obviously since foot/leg length, rearset position, tank shape, etc differ. Ergos will also make a difference whether you use the toes on the outside peg or the arch of the foot.
You also need pretty grippy pegs. If the pegs are slippery, it doesnt help and just makes you lose your footing. And you will probably chew through boots quicker. Small price to pay though.