Your EC sounds really similar to mine fella. My most annoying area is central at the bottom of the top lip. My lip isn't red raw though. Just wondering how you go about peeling? Do you use moisturiser of any kind?
Before bed I apply Batrafen (Ciclopirox) and Dovonex which seems to help the skin peel off in the shower in the morning more easily.
I also use a lacoferrin moisturiser and Batrafen during the day. Still have to go to the toilets some days to rub off the line of slime from my top lip though.
The middle section of the bottom of my top lip is basically broken into 3 squares where the skin doesn't stretch or isn't water-proof. If i could heal this area I reckon I could hide my EC too...