I'll echo Jeff's method with a couple of additions. Before you start, use an angle (or the ever popular door frame) to draw a longitudinal line along the tube - this will be the line you use to line the wrap up with to begin with. Also, be sure to spread the glue out as thin as possible - this is one of those cases where less is definitely better.

Jeff, I like the idea of using the delicate surface tape. I haven't tried this yet (just thought of it), but I wonder if you couldn't use several post-it notes to hold it in place - they would be even lower tack and will not leave any kind of residue or pull off the top surface of the wrap. Just a thought I'll have to investigate.

Greg