J.B.
I don't have any suggestions for personal experience as my little girl started riding her own bike by 3.5 yrs of age. Yes, it means I have to go a little slower, but when I want to get a good fast paced ride in I make sure my husband is with us. I however do still use a carrier seat for my 22 month old son. We have the Bell Deluxe Cocoon, which seems to come up higher than most that we tried out. It does however only have a 40lb weight limit.
So I did a little research & talked to my friend who still bikes with her almost 4.5yr old who weighs 46lbs on the back. She also has the Bell cocoon and said that she's had no problems with it holding her son. He still seems comfortable, no head hanging over problems... and she doesn't feel that its unsafe weight wise. Just make sure you buy new! I got mine at Walmart for around the $50 - $60 range I believe. http://www.amazon.com/Bell-Cocoon-Mounted-Bicycle-Carrier...
Now I did a little research on Amazon & such. Found a couple that state they have higher weight limits & look like they have higher backs for head support. The Kettler Flipper Child Bike Seat http://www.amazon.com/Kettler-Flipper-Child-Bicycle-Seat/...
and the Beto Deluxe Reclining Bicycle Seat http://www.amazon.com/Beto-Deluxe-Reclining-Baby-Bicycle/... The Beto looks alot like a Sunlite model as well just w/ a different name, but I couldn't find a weight on its page. You might want to check them out. Good luck & happy biking! :)