not sure what to do about what seems to be a peeling clear coat on my 1982 Cinelli SC.

there is a yellowing over 90% of the painted surfaces, some of it scrapes off easily with my fingernail, literally flakes off, while some other areas are yellowing but still hold up to my fingernail.

i've tried simply waxing over it to see if that would hide the problem, but that did nothing.

i was wondering if i might lightly sand the rough areas with 2000 grit wet sandpaper?

would an automotive scratch remover (ie megs scratchX) do anything?

any other recommendations?

1st pic of seat tube shows general yellowing. 2nd and 3rd pics show before and afters (flipped tho, 3rd pic is before, and 2nd pic is after) of the chainstay after scraping an small area away with my nail.

By all means, don't sand the any part of the frame! Try using Ronson lighter fluid or a plastic razer blade to remove the loose surface clear coat, or just with your finger nail as you have been doing. After-wards your can put on paint sealer like Dupont Tefron which will do a superb job.

do you mean, have a professional painter "put on paint sealer"? or is there some diy type product?