Although it's been quite some time since I've instructed, I just couldn't help but reply, so bear with me. Rest assured everyone goes through this and we even re-learn this to an extent everytime we change airplanes.
Short answer: Go around!
Long answer: Although there are several different ways to look at/ teach this, I will share mine. I do not claim that this is the one true way to land an a/c, but it works for me...
A good landing begins with a "stabilized approach". I define this as (1)a/c path aligned w/ runway.(2) On desired glidepath to desired landing point. (3) properly configured. and (4) on desired speed. If any of these elements is missing by short final, go around and try again. Probably the hardest one is on glidepath. This one to me means that you are approaching at the desired angle to the exact spot you want to hit on the runway. Knowing this picture requires that you have someone (Instructor) show you this picture. You will notice that the "hit" spot appears stationary in the glareshield while everything else appears to grow around it. If the spot moves up, you are below path and vice-versa. The idea of landing is that you hit your point at the proper attitude and at the slowest speed. In a perfect landing, these all happen at the same time.
Next, you are concerned with "flare". I don't care for that term because it sounds like a singular action where you pull up just before impact. I prefer the term "transition" because to me it more accurately describes what we're doing: transitioning from flight to ground mode and recognizing that it is actually a graduall process. Enough with symantics...
...So we're on this stabilized approach. For every a/c, there is a "magic point" at which you begin the transition. It varies with several factors, including approach speed, weight, aerodynamics, seat height, etc. It even varies slightly for the same aircraft for different conditions. An instructor can show you the magic point for the a/c under typical conditions and through experience you will learn how to adjust for specific conditions. Anyway, at this magic point, I begin my transition by smoothly retarding the power levers to idle. If everything else remains constant (like pitch), your glide path will begin to sink as evidenced by the hit point rising in the glareshield. To keep the hit point stationary requires aft movement of the elevator. If you hit your point at the landing attitude and just as the stall horn sounded, congratulations! I consider that a perfect landing! If you reached landing attitude significatly before touchdown, you began your transition too early. Go around and try it again. If you are going to touch down before reaching landing attitude (flat), you began transition too late, go around and try it again.
It may sound like you are going to do a lot of going around (you are), but that's good. That's why you spend all that time in the pattern!
Now the phenomenon you are describing (climbing back up) is often called "ballooning". Don't sweat it, I even do it in the Airbus sometimes! It just happens when you put in more pitch than is required. My reaction: If its just a little and I consider it acceptable, hold the pitch where it is. With power at idle the a/c will resume losing enegry and settle back down and I can continue the transition. If it's a lot: Go Around! Sometimes ballooning opens the door to another phenomenon known as "porpoising", when you pitchdown to correct ballooning, strike the runway, pitch back up, then back down, and start the whole thing over. This is very unpleasant and can even become dangerous. Go around!
Oh well, that was fun. Hope it helps. Good luck!