The Recipe:
-15 toilet bowl wax rings
-1 quart or 1 liter, of boiled linseed oil (do not use un-boiled, it could cause a fire due to the chemicals used to make it dry)
-Graphite or other dyes to desired colour
Melt it down in a steel bucket over a sacrificial hot plate, stir, then drain into some type of spray gun, brush it on, or slap it on by hand AFTER it cools down a little, but remains warm.
After a while the boiled linseed oil should harden the mixture up a little, and after a coating dust, should be quite dry to the touch.
Please let me know how this works out for you! Obviously its quite greasy, especially when its hot out, but if you live in northern climates in the rust belt, you'll be thankful for this cheap blend of vehicle saving cosmoline.
Make sure you wear some of your sacrificial garments lol.