The Baiters only come out if you're taking too long. Clear the screen quicker and they won't show up. When they do show up, just hit reverse and blast them before they hit you.
Quick reverses to make them overshoot you and give you space. Gets very difficult for me when there are more than 2.
The nice thing is that its now something easy to practice on the first few attack waves. You don't have to worry about being robbed of a quarter in 30 seconds.
If they're above or below you and off the screen, stay level and they will diagonally track to your level. You can kill them as they rise to meet you if you can avoid their shots.