I'd check what's on the market (including what's available on the web). If nothing else, so you don't infringe on someone else's creation (could be a nightmare in legal cost). If you come up with something that's more effective than what's on the market, please do let us know!

Hydropel used to be a favorite of many hikers, but it's gone (and mourned) now. I use Body Glide. Skurka favors (and sells) something called Bonnie's Balm. Others use Vaseline or that centuries-old farmers' favorite, Bag Balm. I'm sure there are others!

Good luck!