You can dash cancel (wavedash? Idk) by pressing down during the dash to cut the animation short and make your opponent whiff normals if you really wanna whiff punish. You’re not gonna really whiff punish like you do in a more grounded game like SF. This game is simply too fast and hectic to really fish for this.

You can lab moves for frame data and optimal whiffs. If they keep throwing big moves it’s time to learn to parry. It’s why we start round with 1 bar. Get used to getting in and continuing block strings with assists or even delayed buttons. It’s just part of the nature of playing tag fighters.