: Independently rotating wheelsets (IRWs) with individually driven wheel motors enable compact low‐floor rail bogies andimproved curving, but their running behaviour depends on how accurately traction and differential wheel torques are realisedunder electrical constraints. This paper presents a constraint‐aware wheel‐torque realisation and allocation framework for IRWbogies using surface‐mounted PMSM traction drives. An integrated control‐oriented model couples linearised lateral–yaw bogiedynamics with a simplified PMSM torque‐response model under field‐oriented control. Feasible current references overconstant‐torque and field‐weakening regions are generated using a flux‐map‐based reference generator that maps demandedtorque to d‐ and q‐axis current commands whilst accounting for current limits and DC‐link voltage variations. A multi‐inputcontrol architecture is adopted: a speed PI loop determines traction demand, an LQ‐servo loop determines yaw‐moment de-mand and a scaling‐based allocator distributes the demands to four wheel motors with saturation handling. Simulations showsimultaneous speed tracking and lateral displacement regulation on straight and curved tracks whilst mitigating hunting‐likeoscillations. Experiments on a 1/5‐scale IRW test rig validate stable lateral guidance and torque tracking, with drive currentsand voltage utilisation kept within prescribed limits.