I have been stung a number of times by wasps on rides and it is not fun. Fortunately, I am not allergic to the venom, it just smarts. For those of you that are allergic, be careful. Bees and wasps account for many more fatalities per year in the USA then Lions, tigers, bears, poisonous snakes and sharks put together. They just don't get the press coverage.
There were a number of solutions for baits vs bees and wasps suggested. The best way to get rid of them is just to remove or poison their nests and do it at night (they will not fly at night). But this will only affect the population in the immediate area and will have no effect out there on the road.
Remember though that bees and wasps are virtually all beneficial insects. Bees account for a considerable amount of economic value by pollinating various crops and wasps devour quite a few insect pests. Also, insect populations are incredibly high. Generally efforts at reducing their populations by putting out a little cup of ethylene glycol (which could accidentally poison pets and children) are ineffective.
Almost all stings occur in 2 situations a) nest defense or b) personal defense. A wasp or bee considers being whacked by a high speed cyclist as an "assault" and they respond defensively by stinging you. Besides putting screen in the vents of your helmet or wearing thick clothing (a really bad idea in the heat of the summer) there really is not much you can do about it. In this case, bug repellant will do no good at all. Bug repellant is designed to discourage blood feeding insects like mosquitos from snacking on you and it has no effect on the defensive behavior of hymenoptera.