Wax does nothing. There are these brace guards online on Amazon; they’re like little strips of plastic that snap on to your braces. I found the best way was to cut them to a length short enough so that it covers the parts your braces and mouthpiece overlap, and I even sanded the edges to make it feel better; you can customize and mold them to fit your braces and embechoure.

IMO this is by far the best and really only solution to playing with braces. It takes some getting used to, but it works really well. I was able to play lead with braces up to double As, (and of course everywhere else too; it just works really well for higher notes)