Before I got my Scotoiler I used to use chain wax never really liked it but anyway I used to have a piece of thick cardboard about 2 ft square with a round piece cut out of one side for it to go around the sprocket hub. You push the cardboard over the sprocket hub and it protects the wheel, tyre and spokes from overspray.
Try using kerosene to remove the lube off of your exhaust and wheel.
Or you could buy a scotoiler and never have the worry again other than a quick wipe with a rag to remove the fling off.
Hope this helps.
