That's the rub... the R/T fail procedures are anachronistic and designed for a time when the possibility to leave CAS at 45 degress and proceed visually were feasible (imagine that in the middle of LUS airspace...).
Without checking the documents, my understanding in the scenario you gave would be:
Proceed to the terminal fix, make at lease one hold, and them start down in the hold and follow the procedural approach. We have a computer-based estimate of your arrival time at the fix and will clear the other traffic out of the way. The details are of course more intricate to that..
An of course, in today's world if you are out of R/T contact for that long you needn't worry about the procedures....
There will be one or two pointy grey jets just outside the cockpit windows more than happy to lead you to the airport of their choice!
