In our earlier work, we formulated the Schwarz alternating method as a means for concurrent multiscale coupling in finite deformation solid mechanics for quasi‐static problems. Herein, we advance this method for the study of transient dynamic multiscale solid mechanics problems where information is exchanged back and forth between small and large scales. The extension to dynamics relies on the notion of a global time stepper. Within each global time step, the subdomains are coupled by the standard Schwarz iterative process. Remarkably, each subdomain can use its own time step or even its own time integrator to advance its solution in time, provided that they synchronize at each global time step. We study the performance of the Schwarz method on several examples designed for this purpose. Our numerical experiments demonstrate that the method is capable of coupling regions with different mesh resolutions, different element types, and different time integration schemes (e.g., implicit and explicit), all without introducing any artifacts that afflict other coupling methods for transient dynamics. Finally, we apply the dynamic Schwarz alternating method to the simulation of a bolted joint subjected to dynamic loading, as a demonstration of the performance of the method in a realistic scenario.