I do not have enough information to make a suggestion about homeschooling a bi-polar child. I do know and have experienced a lot with bi-polar children and adults. so I will ask you some questions that might help in making this decision.
Do you have other children? If so I suggest home schooling this one child will take too much time away from the other children.
Do you work outside the home or at home? If so, how will you find the time to home school?
Are you familiar with the requirements of home schooling? Do you have a curriculum in mind? Do you have support from friends and family for home schooling your child? Does this support include respite time for you?
If you're married or living with someone is that person in agreement about home schooling?
Do you have time and the skills to deal with a high needs child? Are you now able to successfully deal with the melt downs so that they stop rather than progress in violence? Are you able to do so without becoming overly stressed?
Do you already have in place a workable schedule that you can modify for teaching?
Can you remain emotionally healthy while dealing with an emotionally ill and immature child full time?
Dealing with this mental illness is very difficult, as I'm sure you've experienced. The anger only increases over time unless the right balance of medication and behavior therapy is found. I hope that your child and you are already involved with professionals and have a treatment plan in place.
As to having an IEP. Both of my grandchildren have IEPs. My grandson has speech and behavior difficulties. My granddaughter has ADHD. Their IEPs have worked well. My daughter is a part of the team that wrote the IEP. She has access to various people who understand the difficulties that her children have. She receives some training that helps her be a more effective parent. She is glad that she is a member of a team instead of having to figure things out for herself.
Even tho my grandchildren do not have the extreme meltdowns that your son has my daughter could not deal with her children full time. I'm experienced and trained and I find dealing with sudden mood changes that result in anger difficult. I need breaks of several hours.
I was the foster mother of a child who was diagnosed as having Bi-polar disorder as an adult. At that time the experts did not want to diagnose chidrren with this. It was extremely difficult. If it were me I would not home school a child with Bi-polar Disorder. Not only because of the stress levels that I would feel but because the child needs to learn how to get along in the "real" world. This child did attend a regular school and learned how to get along there. Mostly the Bi-polar anger came out at home, where it was safe.
I suggest as a thought, that it might be possible that if you weren't involved so much at school and let the school staff find a way to deal with your son he may be able to do OK at school. I say this not knowing how involved you are or what you do. Conferencing with school staff is important. Sharing ways that have worked for you when dealing with melt downs is helpful but in the end they have to find a way that works for them.
The most important piece in this situation is that your son is receiving the appropriate medication that will help him have less meltdowns.
I do sympathize. I know how difficult mood swings are especially the angry ones. Is your son getting therapy to learn how to deal with his anger? A combination of medication and therapy can make a difference..