Jason,
It's good to do real time correction activities such as you describe. I use "checking for understanding" quite frequently. As I progress through a lesson, I'll stop frequently and ask specific students (at random) to summarize the past few minutes. If unable, I go to another student at random. In this way, I can check fairly rapidly if students as a whole are getting it or if more review, discussion, or explanation is needed.
Barry Westling