That wouldn't fly for me, I require my students to have both arms free of the BCD. I also require the skill done neutrally buoyant. I did just peek in the Instructor Manual and Guide to teaching and it does not state both arms need to be removed, but the CD that did my training says you haven't removed the BCD if you still have an arm in it and I agree.
For the OP, my initial suggestions are first focus on being neutral, give yourself a minute if you need to and don't rush that part. Once you begin removing go SLOW, hold the bottom of the cylinder as you bring it around to the front and keep the BCD touching your body.
1) You are teaching a skill to OW students that has essentially no practical use case. Students tend to exactly replicate what they are taught in class (a controlled environment) even when real world situations differ greatly. I would never rely on only two hands to maintain contact with a BCD.
I disagree with your method but how you choose to teach it is your business, since it is your liability.
2) The OP is using integrated weights. At best, without the BCD, OP is going to be neutral. Chances are, OP will be slightly to very positively buoyant.
To the OP, I would ammend my original suggestion to be-
Always keep one or more arms hooked through a shoulder strap of the BCD.
The sequence I would use is -
Start by loosing the shoulder straps. Then I would extract your LEFT arm first.
Then undo the waist buckle.
Then swing the entire BCD around in front of you from the right side (right arm still in shoulder strap).
Keep your right arm in the shoulder strap and use your left hand to control the BCD as needed.
Then, if necessary, hook your left arm through a shoulder strap.
Then, if necessary, remove your right arm and then hook it back into the shoulder strap.
You should now be hugging the BCD in front of you with the tank between you and the bcd.
Repeat in reverse to put back on.