Excessively swinging of arms or elbows, violation question?

[Jurassic Referee]

Yup, you're interpreting it correctly. The ball is dead when the violation occurs, with an exception being an elbow violation by the non-throwing team when the ball is in the air. In that case, the ball remains alive after the whistle for the elbowing violation, you score the basket if it goes, and the shooting team will get a spot throw-in OOB at the closest spot when the try ends.