Topical 50% Diluted 5% Lugols and skin peeling - ouch!

I tried it a few days in a row- diluted the 5% Lugol's 50/50 with water and just dabbed it on the weird spots on my back a few days in a row and painted it over the FBD areas. No problems. Then I decided (can't remember if I read it here) that I should try saturating some cotton with the Iodine dilution and taping it on with a bandaid so it would stay wet for awhile. Lordy... bad idea. Left it on for maybe 4 hours and decided that the dull, burning sensation might keep me awake at night, so I took them off. It just looked very stained to me, but 2 days later, I have three nice square patches of red, raw skin where the top layer peeled off. I do think some of the raised, scaly areas might be lessened, but I think it's cause I basically gave myself a chemical peel. I'm wondering if that's how Iodine works topically on moles and stuff - not so much that it's "healing" them, but more like burning them off slowly...

Needless today, I'm glad this is on my back and not my face. Once this heals up, and hopefully doesn't scar, I'll try just dabbing it on and letting it dry again. No more soaking in it.