  We present a simple and effective method to create highly entangled spin
states on a faster timescale than that of the commonly employed one-axis
twisting (OAT) model. We demonstrate that by periodically driving the Dicke
Hamiltonian at a resonance frequency, the system effectively becomes a two-axis
countertwisting Hamiltonian which is known to quickly create Heisenberg limit
scaled entangled states. For these states we show that simple quadrature
measurements can saturate the ultimate precision limit for parameter estimation
determined by the quantum Cram\'er-Rao bound. An example experimental
realization of the periodically driven scheme is discussed with the potential
to quickly generate momentum entanglement in a recently described experimental
vertical cavity system. We analyze effects of collective dissipation in this
vertical cavity system and find that our squeezing protocol can be more robust
than the previous realization of OAT.
