I leave the windlass clutch set at a point that will pull up the anchor in all conditions and I leave it alone. It will slip if a heavy load pulls on it with the anchor set, but I always use a snubber to keep the load off of it.
The downside is if the snubber breaks or depending what type of chain hook you have, it comes unhooked, then the anchor rode will pay out. I am sure I will hear it happen if I am asleep below and can take of the problem.
I think this approach is the best way to protect the windlass from excessive loads.
David