The only extension that I've seen implement this closer to right is CLUT https://chrome.google.com/webstore/detail/clut-cycle-last-us... (specifically, the "Quick switch" and "Normal switch backward" keybindings). Every other one I've tried does not.

I only wish that a) it would visually display the tab history the way Firefox does, and b) being able to shorten the Normal switch backward timer, so I could use that only.