Sailing into oncoming short period and HIGH waves successfully (to lessen hobby-horsing) is more dependent on STEERING (boat handling) than sail shape.
Sailing/beating into HIGH STEEP chop is probably the WORST condition for a sailor, especially if the wind has dropped! Without the energy from the wind to keep the boat 'moving', such 'chop' causes the boat to rapidly accelerate/decelerate ... especially if one attempts to steer a STRAIGHT course through the chop.
Steering a STRAIGHT course will cause the boat to almost 'launch' itself off the top of a wave only to have its bow plunge deeply into the trough of the oncoming wave. A bow thats buried into an oncoming wave will tend to STOP the boat, and the bow will get 'knocked to the side of the wave a bit'. The reaction of buoyancy will then LIFT the bow ... and (maximum) 'lift of buoyancy' will occur just at the time that the crest of the next oncoming wave passes under the bow tending to 'launch' the bow free of the water .... and the whole cycle repeats itself for every wave .... plunge then 'launch', plunge then 'launch', .... deceleration then acceleration. During the acceleration -deceleration the apparent wind changes back and forth (due to the change of boat speed), the boat struggles to accelerate, etc. etc. etc.
The solution is to steer a continually 'scalloped' course so that you are going as fast as possible, keeps your 'momentum' and doesnt 'bury the bow' into the bottom of the next oncoming wave as much. A 'scalloped' course will have the boat crossing the trough at a 'broader angle' to the oncoming wave which lessens the 'plunge' or burying of the bow INTO the wave, followed by steering at a steeper angle 'up' the wave until the bow reaches the next crest, just before the crest then one 'bears off' to keep the boat IN the water and then quickly 'hardens up' again to go down the backside until starting to get into the trough where once again you slightly 'bear off' to lessen the 'plunge'. Typically a 'scalloping' course will involve moving the 'wheel'/tiller about 90++ degrees back and forth TWICE for each wave. The hobby-horsing will lessen, the boat will keep 'driving' with less 'sudden stops', etc.
For such wave conditions you need to reshape your sails into a POWER shape to aid and maximize the acceleration, this is not a time to have FLAT sails- flat sails are for speed not accelerating. You want your sails 'shaped' for 'second gear' or if the seas are 'immense and short period' down into 'first gear'.
1. Tighten the halyards ... causes the luff sections to become more 'rounded' which is more 'forgiving' to constantly varying 'angle of attack'
2. Ease the mainsail outhaul - to increase the draft (power), move the jib fairlead cars FORWARD a 'notch or two' (for more power). How much 'easing' the outhaul? .... ease until you get maximum boat speed going 'up' a wave face.
3. Set the Twist so that the sail is 'normal' during the 'going up' & 'coming down' phases ... in the troughs and on the crests the top of the mast/sails can be 'moving backwards to the oncoming wind .... so, forget about what the twist looks like on the crests and in the troughs, only when going up or down the faces.
3. Drop the traveller a bit ... POWER UP.
3a. or better yet - open the traveller at the crests and just before troughs as you 'foot off' and then quickly return the traveller to 'normal' for going 'up' and 'down' the wave faces - leave the mainsheet alone. This 'playing the traveller' constantly can be very tiring but is very effective in steep short period 'chop'. Caution: dont bring the traveller IN to the degree that causes an increase in apparent 'weather helm'.
4. Look at your charts and sail towards DEEPER WATER ... deeper water will have less wave heights and longer wave periods.
5. Set/trim your sails so that the tell tales are streaming well when on the 'faces' of the waves, forget about what they look like when in the troughs and crests.
Sailin/beating into high steep chop while holding a 'straight course' will result in whats called "the Caribbean Two Step" ... one step forward, one step to the side. 'Scalloping' will artificially lengthen the wave period, give TIME for the acceleration, lessen the 'plunge', lessen the 'launch' .... and result in a 'higher' overall course sailed.
Shape the sails into a POWER shape (according to max. value shown on the SPEEDO) and then PLAY the traveller.
If scalloping seems to be 'too much work', then simply bear off onto a high close reach and bear off slightly in the deep troughs.