Volumnus: Sounds like your boy is similar to my 1-year Teddy. He is close to being the 'perfect' dog, but he loves to wrestle and chase his brother Max and won't give him a moment's rest.
Yelling and rear end popping will only get the dog more excited, more likely to want to play fight. He might think you are joining in the fun.
When my boys really get going chasing and jumping off of furniture and they won't obey commands, I quietly put up the baby gate in the kitchen and separate them until they settle down. Once separated, they will start performing animated sits on either side of the gate -- like soldiers standing at attention -- to show me that they are 'good boys.'
I agree with Brit, Uni, and others who recommended training, loads of exercise, and maybe neutering. In addition, when your dog is with another one, get involved and work with both of them on performing a trick or playing fetch together. Usually 10 minutes of fetch or performing tricks will distract Teddy from wanting to wrestle his brother.