How to avoid monopoly in the Indies?

How to maintain dominance over Spanish America ending the monopoly at the same time? It´s a simple cuestion but a difficult challenge if you accept it. DO YOU ACCEPT IT?
 
Easy, have Montezuma challenge Cortez's Conquistadors and the 2000 Talaxan troops in the open field before he gets to Tenoticlan (sic). The Spanish don't get control of Mexico by coup de main, and therefore don't get the idea that they can take Peru by coup de main. They begin a process of trade, missionary work and small wars to upset the local balance in Spains favour. This is still occuring when Drake arrives on the scene and throws a spanner inb the Spanish works, and there you have it a competition between Spain, declining local empires and England.
 
Or, with a later POD, Spain was already ending monopoly in the early 19th century. If you can keep Napoleon out of Spain, or avoid the Napoleonic wars altogether, no independence wars will start on the 1810s and you could eventually have and end on monopoly on the first half of the 19th century without Spain loosing their American holdings.
Or get a Spanish victory in the independence wars and loosening monopoly as a way to appease the local elites and try to avoid further rebellions.
 
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