Yes, wet sanding will work. While wrapping the NFC is more difficult than wrapping a smooth, painted rod, I did not finding wrapping with the ridges all that difficult. Just more packing. And the ridges will result in a slight thread gap here or there. I have wrapped less than a dozen rods in my life, so I am far from an expert rod wrapper. Starting the wrap and getting it even to the rod blank and not tilted with the ridges is the hardest part. Again, I make three wraps then overlap to get a good start and then pack each or every other wrap for 5 - 8 wraps and then pack hard to align the wraps with the blank, then cut the thread piece that is overwrapped. On a smooth blank the start of the wrap is much easier. Once you get the wrap going, it is just a matter of packing.

Biggest thing is pack as you go. No pushing a bunch of thread over allowed ;)

Just go slow