My solution - insert a MIDI "control track" that contains "skip to last locator" commands. Have this track's on/off (mute) status controlled by a footswitch (I have this footswitch bracketed by some aluminium angle so I can reach for it without stopping the song). I use Bome's MIDI translator to achieve this. I insert simple, bright green, MIDI clips into the set where I might want to linger.
Result - if I want to linger a bit, it's easy to hit the pedal to tell Live to keep repeating a section until I say move on.
To remind the band there's a section we might want to repeat, I've already highlighted that bit in the band's leadsheets and added an audio cue fro those on IEMs. As they can also see if the mute button is on or off they know whether I'm going to repeat or not.
Here's a quick video to illustrate. More detail to follow - feel free to comment or email me with any questions meanwhile.