Ok, I've kind of solved this, but run into a different problem (which just seems to always be the case).
If in the battle menu, I create a button of type Auto, and in the Combatant's AI, I set him to Attack Last Target, and select this button during combat, I get the exact effect I'm looking for. The Combatant will attack the last target it acquired (perfect!).
But - I want to create a condition for showing this button (I want the player to lock onto or engage his target first, before showing such a button) - and while Abilities have conditional settings, Battle Menu buttons do not :-(
Is this something you'd be willing to implement for me?