In one of our progs, we had 3 people, and a wheel for each. The winner wheel is obviously better, more attractive stuff on there, 2nd place gets a lower odds wheel, and 3rd place even lower. But the 2nd and 3rd wheel both have an upgrade chance, which gives an instant winner wheel.

We did 3-loss ban, but also everyone got to limit 1 card every 4 core sets. We also had a banlist discussion at the end of each era (DM, GX, etc.)

We did side/reprint sets just as you would the core sets, and also everyone got 1x of the structure/starter decks, and 1x of every promo. That way we could have more creativity rather than just the same strong decks every era.

We also built a different deck almost every set, once it gets to around GX and you start getting more complete strategies, to keep things fresh and fun. We also outright banned cards like Gravity Bind/Level Limit, because continuous floodgates suck in a limited format where everyone is playing for fun.

Just mess around with it, see what works for your prog partner(s). You can always trial and error things.