Normally I run in a big circle in the range of the attack area and hope to stir up Stone Golem's and Drake's to help out. But that gets old when Ive already killed them off before when they messed with me before Wolf attack.
So I went about 100 meters from my castle and dug a square hole 10 x 10 meters, deep enough my head is just under the ground around hole. From there I put down crafting tables around all 4 edges down in hole. From there I used hoe to make a column in the center so I can stand on, so I can watch them go crazy and what gets caught in hole i kill with arrows.
Reason for Crafting tables is, if the tables are not there the wolves figure out they cant get to you, so they run for your castle, etc and start knocking down your build.