Molinete is one of the hardest steps both to lead and to follow. There are many little nuances in terms of how to provide a better lead. When I teach a molinete, I first try to introduce it by having a student execute the movement by humself/herself. Regardless if you are a leader or a follower, you need to know how the movement FEELS!
So, here are a few points to think about:
1) SLOW DOWN! SLOW DOWN! SLOW DOWN!
In tango there is no such thing as too slow!
2) Keep in mind that the lady has to do EQUAL steps around you...thus, your rotation has to be equal around your own axis... Thus, if you are slowing down, and providing equal intensity lead, she will be able to respond better.
3) Your FRAME has to be strong. By strong I do not mean tense... it just has to be constant. Your shoulders and your elbows have to be stable and NOT move separately from your body. Your frame also determines the speed of her movement. She can go only as fast as you will allow it with your frame. Of course, this is a statement from the "Ideal World", but in the "real world" the lady may be backleading, or rushing herself. Keep your frame stronger (again, not tense, but connected...) and that will give you a chance to control your movement and hers.
4) When the lady first starts learning the molinete, it is VISUAL for her. However, afterwards, she follows by FEEL. The women often dance with the eyes closed. Your body is their guide. Try to visualize for yourself, what would happen if you would be following... what would work for you...
Another thing, is that DO NOT DRIVE THE MOLINETE WITH YOUR HANDS... It i not the hands that lead the molinete, but your BODY! That pressure that you are taling about is actually good... as long as it is NOT OVERPOWERING THE LADY! That is the basis of your connection!
Please let me know if that was helpful!
Sincerely,
Vladimir Estrin