When my son was 2 I could hardly keep up with him. I have 3 herniated discs in my back and that made it so much harder since I could not chase him down to swat his butt or hand let alone hold him down or make him stay in time out. What I found that works with me is that I start doing something crafty on the floor or the table. Eventually his courious mind gets him to come to me without saying anything to him at all. My kids were about the same age as yours were too so I have to find things that both could get into fun for him and something the baby can do without actually knowing what to do or get hurt.
Once I found a few crafts he loves like playing with the color wonder markers and other things when I don't have time or the ablility to clean up a mess I would tell him that if he can not clam down and be a good boy then we can not have craft time. It took him about 3 weeks to get that I ment it. But it works well now and he is nearly 4 and she is 2.
color wonder or painting with pudding works great with kids at that age. You still need to supervise so they dont get the pudding all overe the house or so your little one dont try to suck on the markers like a nook or bottle LOL.
I would even cut holes in paper plates and use a hole punch or stick to make masks too. My older one loved to decorate them and the younger one was just happy playing peek a boo with them!
It helped concentrate their energy and help get them to focus on 1 thing at a time instead of bounceing off the walls.
Even a month later I was able to start watching movies with the kids and they'd sit down and actually watch them and it gave me a chance to talk to them and increase both their vocabs but telling them what things were.
Mys on has a little trouble saying certain things who is nearly 4 now but my 2 year old girl who just turned 2 now has a vocab larger then most of the 5 and 6 year olds she plays with outside because we talk about what we see when we watch tv. SOmetimes I sneak away for a few mins at a time to get the housework done but I work a few mins at a time talk to them for 5 and keep going back and forth. I tend to do the same now with the crafts now that my youngest is 2. Sometimes I can even read a book next to them while they play quietly for the most part. We are still working on the inside voice and outside voice but that is a whole different thing. Good luck and always keep in mind that you will always have bad days with them but the goal is to have more good days then bad. No child will ever be perfect but if you have more good days then bad your on the right track at least.