I havent tried chapstick, but yes. I bought a product called Frog's Fanny. It's a powder that is brushed on. It works well the first couple of casts, but then the fly wants to sink. And once its wet, the dressing doesnt work very well.

.10 surface acre pond, 10.5 foot deep. SW LA. The epitome of a mutt pond. BG, LMB, GSF, RES, BH, Warmouth, Longear Sunfish, Gambusia,Mud Minnows, Crappie, and now shiners!!...I subscribe!!