In 2012, I funded a Kickstarter for coin-sized Bluetooth tags that will give proximity alerts and (croudsourced) tracking. I got those for my luggage in a trip planned for 2013.
Now, that technology is even better and commonplace; it's even built into some objects like my headphones and even Apple is selling "tags" now.
Put a tracking tag in each bag and you won't have to wait right at the belt, but can be alerted on your phone when the bag is in range, and can follow it if someone else takes it, detect that it's in the baggage-claim locker if it arrived without you, etc.
You can even get trackers that are built using the chips used for phones and tablets, that take a USIM card and has GPS, so will report its position as it travels. You can buy a cheap "feature phone" for $20 and just use it for that purpose.