Dan, you could do all of the above. Personally I'd leave it intact and wrap sooner, at the first stall. They usually stall in the 150s but my last brisket did not stall until it hit 165-167 IT. IT may drop as much as 10 degrees after you wrap, especially if you use cold liquids in the wrap, but don't sweat it. All part of the process. Make sure you keep smoke on it the whole time before you wrap to get a nice smoke ring.
If you put the meat on at 6 AM at the latest, meaning you got your fire started earlier, you'd be fine. If so inclined, put it on at 5 AM just to give yourself some leeway. When I do briskets hot and fast, which is how I do just about everything except ribs, I figure about an hour/lb on the smoker prior to the rest period.
If you have any concerns on time you can crank up the temp once it is wrapped. Before I started smoking meat I oven roasted many a delicious, succulent brisket at 350F. Once you wrap it, you are basically oven roasting it inside the wrap.
Pull at 200F IT and do the poke test for tenderness, then let it rest still wrapped covered in towels for at least an hour before slicing or chopping.
Have fun!