In order to make maximum use of procs there are several things a WD must do.
1. As procs are multiplied by attack speed it is not generally a good idea to have a slow weapon.
2. Because AC has a very high mana cost you will be devoting many of your passive skills and item affects to increasing your mana regeneration rate and or decreasing your mana expenditure. This is why I have Blood Ritual and Vision Quest in my build as well as Honored Guest as the rune on my spirit walk skill. In addition I have mana regeneration on my Knife, Mojo and Head gear.
Method of casting.
Because AC is so deadly expensive to cast one simply cannot spam it.
This is what I do and what has through experimentation yields the best proc rate over time. I hold the ROT attack button down and rapid fire my AC as fast as my Mana will allow.
With a total of 130 mana regeneration and a 15% reduction in mana cost I can rapid fire AC as fast as I can (approx every .5 seconds) and only mildly reduce my mana pool. I can maintain this for about 30 seconds before I have to trigger my Honored Guest spirit walk to replenish.
I use pets and Grasp of the Dead in order to reduce my targets mobility while my Damage over Time Skills kill them. ROT, 1/3 of the damage of AC and Grasp are DOT skills and the more a target can be made to stay in one place the more damage they take over a given amount of time. In addition monsters have a tendency to get into the Grasp area and stick there causing a clumping effect that is highly desirable for my skills which all have an area of effect.
For Grasp I like the Rain of Corpses rune for the extra 320% damage over 8 seconds, I also love the animation. It is particularly effective once the battle field is reduced to a single target such as a gold monster or boss.
For dogs I choose Burning Dogs, the rune does not proc much but it procs more than any other rune for dogs. (The Rabid Dog rune does have a higher % proc but only per attack, burning is per tick and goes against every enemy in contact not just the one being bitten)
If you find your dogs are too fragile try leeching beasts instead. Because I use Life on Hit Burning Dogs replenish my own health pool about as well as leeching beasts do.
For Gargantuan I choose Bruiser, although Grags no longer proc at all at least bruiser has a chance to stun opponents.
You want the highest rate stun gloves and freeze belt you can get that do not take your dps down too low. I can't be too specific here. Everything is a balance that will vary with each persons build. Personally My gloves and belt for similar money could probably have 75-100 more int each which is about 7k-10 dps out of 135k and maybe about 50k of ehp given up in no all res, and lower vit, out of 320k. Thats roughly what I had to sacrifice to get the proc CC of 4.5% freeze and 4.9% stun.
You want to get +% crit chance for AC on your helmet and on a Stone of Joradan. These are relatively cheap as +% crit chance for AC is not currently highly valued. I got a perfect SOJ for a few tens of millions, try to get perfect Zombie charger or 0 dog ring will cost you many hundreds of millions.
Get Mana regen on your weapon, mojo and helmet, you will need all you can get in order to maximise your AC use. Make sure you get a full Zuni set for the mana as well, this is critical.
As you want +% critchance and+% AC crit chance and mana regen on your helmet that means you will want to go with Visage of Guia, which means you should prefer to get a string of skulls to complete your Zuni set.
You will need Life on Hit from your weapon, amulet, or blackthorn pants, if you are very rich/lucky you can get life on hit from your zuni ring. How much Life on Hit you need depends on your defences and the MP level you are ready for. Personally I am running just under 900 from my ammulet and I would like to get to about 600 more form a weapon to feel comfortable.
Other than that, just go for the standard gear set (lacunies or inna pants, witching hour belt with freeze chance if you can). chance, crit damage, vit, defences etc... If you find a CC proc on anything else that does not hurt the items other stats much then go for it. For instance my Zuni string of skulls has 2% blind but is also a kick !@# mojo in every other respect as well. +% damage to rain of toads on a weapon would not hurt either.
I should mention fear and knockback are CCs you should actively avoid in my build. My bulid bases itself off area of effect dot damage which means i want mons to clump up and stand still. Fear/Knockback do the opposite of that.
With my current equipment (4.9% stun, 4.5% freeze, 2% blind) I can keep a typical elite monster locked in stun/frozen from for about 80% of the time if it is directly under my ROT/AC attack. ROT has a very small area of effect so if two or more mons are close together I can lock them 80% as well. Mons father away from the central point only get the affect of my AC and the lock rates fall off considerably.
Pros of this build.
1. It is not a bear build.
2. It allows you to hang back in many circumstances allowing your freeze/stun effects combined with your pets and grasp to keep monsters locked down and away from you.
3. It is very helpful in group games.
4. Properly built it can solo ubers as well as high mp farming (albeit slowly).
5. It clears low MPs lightning fast, if you concentrate on +Crit chance for your AC you will naturally have a very high damage Acid rain skill which can clear white mobs with ease. As well, a high mana regen will allow you to use pierce the veil with AC and still cast quite often, which means one shotting white mobs within a 24 yard radius.
Cons of this build.
1. It is not a CM Wizard build. CM Wizards are broken and can do what this build strives to do better in every respect. GG Bliz...
2. It is not particularly cheap to build. The need for a fast attack rate combined with WDs lousy mana regen abilities and its reliance on CC proc effect on your belt and gloves means you will need to devote serious cash to the build and be willing to sacrifice some DPS to get it done.
3. It is not flattering to your Paper Doll. Your Paper DPS and paper EHP will seem lower than the average. This is because much of your resources (both items and skills/passives) have been devoted to resource managment and proc effects. (keep in mind your true DPS will be much higher than what is listed due to SOJ and +% crits to your AC)
4. It is slower than bears, but IMO more survivable. Max procing LOH and CC effects at range is a very safe way to run.