I wrap my chain stays with an old tube. I find it works best with an old road tube (not a wider MTB tube)
- Cut the tube near the stem (on both sides of stem) to remove the stem
- I wrap from rear to the front
- Start a few inches forward of the rear axle area.
- Wrap backwards going towards the rear axle, overlapping about half the width of the tight/flattened tube.
- Once at the axle area, start moving forward, going over the few inches you just put down
- Keep the tube tight and flat, overlap about half width as you wrap all the way to where you want to finish (close to front chainrings)
- cutCut the tube to length, I like to finish on the inside of the chain stay
- Keep it closed by wrapping some electrical tape. I make sure to note get any tape on the frame, just the rubber tube.
I find this to be very similar to wrapping my road drop handlebars.
Never done any more than chain stays but have seen it on some downtubes.