Bleeding can easly be controlled with direct pressure. As far as shock, this isn't an issue. IVs in these cases are used more for the administration of pain medications than fluid introduction. Besides, IV fluids don't have the ability to carry oxygen. Injuries to great vessels will be quite bloody, but you can control even this type of bleeding with direct pressure.
Tourniquets are a no-no.
They cut off all blood supply beyond the tourniquet. You stop the bleeding alright, but the extremity dies. Excitement will breed excitement. Calmness will breed calmness. I'm an avid woodworker myself.