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These ears can bleed like crazy, particularly if they are shaking the head because it hurts.
I suggest that you start with some stypic powder, like men use for cuts or you use when you cut your dog's toenails. Then you should loosely tie the ears to the dog's head using the leg of a pair of pantyhose (just cut out the crotch). Don't tie them tightly. Just loosely tie them so that you can prevent shaking. If the dog dog is not shaking the head, you can skip this step.
If you can't get it to stop, you can wait up to 10 minutes or so and see if it stops on its own with some direct pressure.
When all else fails, you should see your vet for a stitch.
Let me know if you have more questions.