I have an old 2n front mount distributor that sits outside in the elements. A common problem I have is it wont start the once in a blue moon I use it. (bush hogging, etc). What happens is the points corrode and have no continuity between them.

Can I spray or use something on the points to keep them from corroding?
Also, I would like to somehow weatherproof the distributor and square can coil as much as I can. I thought about covering it in that peel and stick asphalt flashing, but I assume the engine heat would cause that to not last very long. Can anyone out there help me with some ideas to moisture/weatherproof the points/coil/distributor?