^Disney tried that same thing with the wristbands, and I bet Universal considered it, but too many "dependable" parents broke the rule. One child who was tall enough for an attraction got a wristband. The parent would then take the wristband off the taller child, put it on a child that's too short and say "see, they measured him out front." So Disney decided against doing that, do to the inconsistencies.
Parents, please remember these height requirements are NOT set for you to have a bad day, they are NOT set to ruin your vacation. These are actually determined by the ride manufacturer, NOT the park. The ride manufacturer basis this height requirement on seat and restraint design, as well as G-forces that a certain body type can experience on the ride. A person underneath the height requirement on a ride has a very real chance of getting hurt or killed.