I meant no insult to your age, only mine.
The 68k from memory has an instruction 'reset', this pulls the reset line low for so many clock cycles, I think it was done this way as when the 68k came out and you'll know this having learned it the device was quicker than some io.
Theres also feedback pins that tell the chip that the memory has had enough time to access and it can carry on.
If you want to implement this with another chip, and the chip doesnt have it (seeing as memory and peripherals are now quicker its logical to assume not many micro's have this function) you could use either an o/p pin on something like a pic and just use a routine that pulls a pin low then high, or if using a micro without ports you could configure the address decoder to give an active low when a particular adress is accessed, then its just a matter of a dummy read or write to reset the peripherals.