Our B&G wind speed meter only goes to 50 knots. I'd be interested to know what meter there is that goes to 70 knots or more as folk are saying.
However, heaving to :
Elyse has an inner forestay, so we heave to with the staysail and the mizzen (jib and jigger). They balance each other well and provide an easy controllable way to heave to.
Sailing to windward, we just tack and don't touch the sheets, then find the rudder angle that keeps us forereaching and tie off the wheel to the stainless thingy that's next to the companion way ...it's for the companion way lock down, burglar proof system (which we have never used).
We have done this successfully a number of times when the wind and sea was just getting too much...eg from NZ to Tahiti we were hit by a fast moving depression which made BIG seas and winds 50+, we hove to over night, had a meal, hot shower and a good sleep. In the am the breeze was down to a much more reasonable 40 knots so we loosened the helm, the breeze blew us around and out of the hove to position, and off we went again...under staysail and mizzen until the breeze came down enough to unfurl the main.
We have a Shark drogue in the lazarette set up to go, but have never had the need to use it, apart from testing it out...but then we seem to spend a lot of time sailing upwind in weather, not downwind. Such is life in the south of the South Pacific.