Recipe(tried): You can make your own lotion...

Unibase is an oil/water emulsion. You can thin it with water and add your own vitamin E--just open a capsual or two and add to the lotion and mix well. I would not add glycerin and avoid any lotion or lip pommades that have glycerin as this will pull fluids from your skin.
Here is what we use for dry hands(cracked fingers), chapped lips and cheeks and diaper rash(treat and prevent). I couldn't do without it.
16 oz anhydrous lanolin (I have price this from $4-$17/lb so call around)
16 oz white petrolatum (generic for vaseline)
Place each jar in a pan of water and heat on the lowest temperature until melted. Pour together and stir well. You may want to use some thing disposable for this. Pour back into the jars or smaller containers if you wish. This is similar to "bag balm" but with out preservatives. If you do not wish to make your own there is a product called "Lantiseptic" that is similar but not a veterinary product like bag balm. These may seem a little sticky at first but melt with body heat and seem to rub into your skin.