Your problem is most likely caused by the baby oil accident. Oil can have an effect on many layers of the skin and it probaby just dried out his scales in various places which is causing excessive shedding peeling. I would not worry about it too much. You could try wrapping him up completely in a warm, damp bath towel or two (not soaking wet, just damp) and putting him into the empty bathtub or kiddie pool. The process of working himself out of the towels will help rub off some of the old scales. You might have to try it a few times... it can't hurt him. Basically, try not to worry too much. If he's active and eating well and the temps are Ok, he'll probably get back to a normal shed cycle in a few months. Good luck and keep us posted.