Hi all, I would swerve Waxoyling over Corosion like the plague as it will eventually trap moisture behind the wax and first stage corrosion will quickly turn to rot, this is especially true for the internal chassis surfaces. My Disco 2 chassis is like new ..both inside and out, simply by regularly coating with Duck oil (marketed by Swarfega) using a pump sprayer over the entire under side of the vehicle (protect discs from contamination with clean cloths). Spraying Duck oil onto the internal surfaces within the entire chassis (and cills) is crucial (Chassis Wand on eBay) will guarentee complete coverage. Duck oil is incredibly penetrating and will neutralise Corosion under wax and lifting painted/under-sealed surfaces, its passivating and moisture displacing properties will be active for 12 months on a corroded surface (although I repeat every six months and you can see that it stays permanently oil wetted)...simple, cost effective and very very effective.
Hope you find this helpful..