Blast from the past.http://classicbike.biz/Triumph/Repair/45-55/45-55TriumphRepair.pdf
Page 95 has instructions for rear chain lubrication.
The problem with letting it cool, and then wiping off the excess is that it is hard to get the stuff between the links out.
So I take the chain out after it is cool, scrap off what I can, then hold the chain over the can and take a propane torch and quickly heating the outside layer of grease, letting the grease drip back in the can. If done correctly, the outside grease is melted and drained off, and the inside of the chain rollers do not get hot enough to lose the grease inside them.
'Course, with Xring chains, that is all moot.