In Release 14, the 3rd Generation Partnership Project (3GPP) introduced Cellular Vehicle-to-Everything (C-V2X) mode-4 as a novel disruptive technology to support sidelink vehicular communications in out-of-coverage scenarios. C-V2X mode-4 has been engineered to operate in a distributed manner, wherein vehicles autonomously monitor the received power across sidelink subchannels before selecting one for utilization. By means of such an strategy, vehicles attempt to (i) discover and (ii) reserve subchannels with low interference that may have the potential to maximize the reception likelihood of their own broadcasted safety messages. However, due to dynamicity of the vehicular environment, the subchannels optimality may fluctuate rapidly over time. As a consequence, vehicles are required to make a new selection every few hundreds of milliseconds. In consonance with 3GPP, the subchannel selection phase relies on the linear average of the perceived power intensities on each of the subchannels during a monitoring window. However, in this paper we propose a nonlinear power averaging phase, where the most up-to-date measurements are assigned higher priority via exponential weighting. We show through simulations that the overall system performance can be leveraged in both urban and freeway scenarios. Furthermore, the linear averaging can be considered as a special case of the exponentially-weighted moving average, ensuring backward compatibility with the standardized method. Finally, the 3GPP mode-4 scheduling approach is described in detail.