You have the right idea, except you're missing a vital part. After it rampages from being shot by an arrow, you have to quickly grab to chain attached to its limb and put on the Iron Boots. It'll soon fall to the ground because from being pulled by the chain, this is where you wack at its face with your sword. Rinse and repeat.

Remember, whenever you're fighting a dungeon boss you have to utilize all the weapons and gadgets that you've obtained since the last dungeon boss.