When he launches himself at you, do you acknowledge him in any way? Look at him, speak to him, yell at him? Puppies don't know the difference between positive attention and negative attention. If you are paying any attention to him when he's biting you, he'll keep doing it. Only give him attention and praise when he's got the toy in his mouth. He's biting you, you say "uh uh" in a neutral voice and stick the toy in his mouth, praise as soon as he's got it in his mouth, "good boy, what a smart boy" and keep repeating it over and over until he gets it. And he will.
I know it seems like it will never get better, but it will. Just stick with it. All puppies are different. Some are sharks, some aren't. You just happened to get Jaws
