REALLY BAD puppy biting

Question
I live in Sri Lanka and we rescued a stray puppy. She turned up outside our house and we all just fell in love with her! She is now about 8 months old and a lovely dog, really intelligent, sweet and full of character. Her one problem however is a really serious one; she has a terrible chewing habit of course that is to be expected of a puppy) we have had several pups before but none have been as bad as this- it would be fine if it was just shoes or whatever, but its people as well actually we are her favourites (. When she gets excited she gets REALLY bitey, especially with me (basically im her owner and we both love each other) as im the one who plays with her, for example we'll be playing fetch but after a while she'll get bored and simply turn to jumping up and biting at me. There is nothing malicious in it- she thinks it's all a game, but she is a very dominant dog and probably thinks im just one of her litter mates she can dominate. It is possible that she was away from mum and litter mates when she was very young in which case she may not know the bounds of playing and not to be too rough. She really does get very rough; i don't think she realizes how much it hurts but i just don't know how to stop her when she gets in a state. If you push her off she comes flying up harder. If you shout at her or make a loud noise she backs of for a second and then comes back. If you pin her to the ground in a show of dominance she gets worse! Tying up calms her down but the next time she gets excited it happens again.You can't just ignore her because she gnaws really hard. I just don't know what to do. Now my family are warning that if i can't trainer she'll have to go ( im 15) but i love her, she loves people and i know she is just playing- i don't want to lose her! PlEASE, PLEASE HELP it really is important.

Answer
NEVER pin her to the ground, because you run the risk of making her aggressive as an adult dog.  She is not trying to dominate you, she just hasn't learned appropriate behavior!  The most important skills to teach are: stay, leave it, and walk on a loose leash.  These are impulse control cues.  If you can purchase from Amazon video on demand, try getting Ian Dunbar's Sirius Adult Dog Training video, which has some good self control exercises on it.  

However, for maximum effectiveness, I suggest using clicker training to teach your dog.  If you can't find a clicker, just use the word "yes" instead when you are instructed to click.  
http://www.youtube.com/watch?v=omZt5Eu8nfE
http://www.youtube.com/watch?v=WiSwb7iuVtw&feature=relmfu
This one might help you with the jumping and biting at your clothing, etc.:
http://www.youtube.com/watch?v=IR7TvrUQ_1k
And: http://www.youtube.com/watch?v=ZKjk84OkzcI&feature=related
The one described here is for sale, and I ordered a copy myself, as I really like all Pam's other videos: http://www.youtube.com/watch?v=PxCZ57I1O7o
For "leave it" - http://www.youtube.com/watch?v=Se4Atg7qa0s&feature=player_embedded
http://www.youtube.com/watch?v=asVQYYSWPJc&feature=relmfu
And, for not mugging your hands:
http://www.youtube.com/watch?v=t37zLMLT6KA&feature=relmfu