I use candle wax on the bonnet tape to stop the bonnet chafing which works well.
I have taken to using lip salve on the bonnet tapes. It is made from beeswax, carnauba wax, and lanolin (plus the sweet smelly stuff), and comes in those handy applicators. Might be a challenge to get it in the channels, an artist's brush should do it (the short flat kind -- brush, not artist).
