> If a wheel falls off, the driver doesn't have to apply the brakes... A quarter of the car is digging in and melding itself to the asphalt.
That's not necessarily true. I've been in a car where the rear wheel parted ways with the car and passed us. For a few seconds we wondered where that wheel came from until realizing it was from our car. The car was balanced just fine on three wheels, there was plenty time to lift off the gas and make way to the breakdown lane safely.
Even if it's a more heavily loaded wheel (e.g. front wheel on front engine front wheel drive car), it'll slide on the brake disc or the disk cover (whichever is lower, varies by car). A good amount of sparking but you'll have enough steerage to pull over.