Hey oneday,
What are you using for lube now? I think you are going to have to take some time off and let your dick recover. Try this, no exercises, no moisterizing creams or lotions, warm wraps (not hot wraps) and get yourself some Vitamin E gelcaps. After you get out of the shower and your dick is clean, break one of the gelcaps open and apply the Vitamin E oil from the gelcap. Massage it in lightly and then leave your dick alone until the next time you take a shower.
When you start back to exercising, try Johnson’s and Johnson’s Baby Oil Gel. Find the kind with Vitamin E and Aloe Vera in it if you can. After you are finished with your routine, shower it off, and do the gelcap thing again.
Both of you guys may want to look into water-based lubes also. The kind that clean up real easily.