Around thirty years ago a process was introduced into Qantas to address this problem. In the orders it was stated that in this scenario the FO should say ' Captain you must listen to me' - then state what should happen. If this phrase was used it had to be the subject of an incident report. The message is clear to all concerned and hence it is rarely if ever required.
... which was great and everybody understood it.
In their infinite wisdom a few years ago they removed the "You must listen Captain" phrase and replaced it with RAISE - an useless acronym that nobody ever remembers what it stands for.