Air carrier Captain reported descent below glide path on final approach resulting in a Glide Slope Alert.

Narrative

During our arrival into ZZZ; we momentarily deviated below the glide path with a high rate of descent between 1;000 and 600 feet AGL. We were arriving after a delayed departure from ZZZ1 due to an aircraft swap. The planned approach was the ZZZZZ to Runway XXR; with the First Officer (FO) as the Pilot Flying (PF). The FO briefed that he would fly the approach using VNAV procedures and we discussed at what point we would set FAF altitude during the approach. However; we did not explicitly brief when to set Touchdown Zone Elevation (TDZE).During the approach; we were instructed to maintain 180 knots to ZZZZZ1; which we used as our Final Approach Fix (FAF) with a crossing altitude of 1;600 feet. We were also maintaining visual separation from an Aircraft Y slightly behind us on Runway XXL. As we approached ZZZZZ1; the Autobrakes disengaged from the selected setting. I reached down to reset them; cycling the switch to OFF and back to Level 2. This momentarily diverted my attention from the approach. At that moment; the FO noted that we had not set TDZE. I observed that we were above the glide path; and the FO disconnected the autopilot. Simultaneously; ZZZ Tower cleared us to land.To assist the FO in re-capturing the glide path; I quickly selected Vertical Speed (V/S) mode on the Mode Control Panel (MCP) but inadvertently set 1;400 FPM instead of my intended maximum of 1;200 FPM. This coincided with the FO pitching down; momentarily resulting in a high rate of descent and a Glide Slope (GS) alert. The FO promptly arrested the descent and confirmed he had the PAPI lights in sight; which were now indicating on glide slope; therefore we continued the approach. I completed the Landing Checklist just before 500 feet AGL; and we subsequently re-captured the GS indication shortly thereafter.