Best way to record, loop and control MIDI clips on the fly?

I know I can create predefined midi clips and use overdub mode to record midi into them. From my APC 40 I can easily turn midi overdub on/off. My question is: is there an easier way for me to just at will decide "hey I want to now create a new midi loop and I want to decide how long it is on the fly and when it starts and stops"? What's the most efficient workflow to achieve this?

Thanks for any help! It's much appreciated.

Also, the Looper plug in is only for audio-in correct (not for looping midi clips)?