I hold it up over the pan, folding it a few times to keep it more compact and let it drip. You can tap it a little to get more to drop off, just don't overdo it, or you'll have a mess. It just takes a minute or two for it to cool down enough to handle carefully. The benefit is that you can leave the hot wax in one spot and not have to worry about sloshing it around. I'm also unclear about how to "drape" the chain through the wax. Not sure how I would hold a spring loaded chain under the wax. If you can work that out, leaving it on the bike should be fine. Removing and installing with a quicklink is a piece of cake. If I didn't have that option, I would probably look more closely at the draping method.