i think there are 2 basic approaches.

-reraise everytime preflop you think you are ahead of their range (which is huge), c bet every flop and occasionnaly trap when u hit big. This is usually confusing for maniacal players as they are used to being the aggressor. This is the toughest approach since if they catch on they might be coming over the top and u might have to make tough calls for your stack with hands like AJs or AQ (prob +ev if they are aware maniacs)

or

-do a lot of calling with say 2nd pair or better, sometimes even a pp which beats 3rd button. In the long run this approach will allow these players to hang themselves. It is tough as well though since by playing passively you will allow them to put you to tough decisions.

I prefer the 1st approach which takes a significant amount of "big pot" skill but puts the maniacs to the tough decisions rather than you.

Your waiting on premium hands approach is fine as well though. At a full ring table it won't cost you to fold a lot. At 6 max, however, the maniacs will inevtibly expoit your tightness (unless they are total donks who will stack off extremely easily).

Playing against ppl like this is what makes poker fun. It's tough but extremely stimulating.