I do it for my road bike all the time, doesn't hold up to wet conditions very well though so if you're riding in rain and snow I'd do something else. I don't get too fancy, I clean it with mineral spirits in an old mason jar then drop it in canning wax in a mini crock pot for about an hour. The only mess besides the drips on the workbench is some flaked wax on the chainstay after the first ride that wipes right off.
Look at this loser, cleaning it before throwing it in the pot. /s
I chuck it in, stir it around, and leave it for 20-30 minutes. Every few times I do chains, I turn the crock pot on for a hot few seconds, then flip the puck of wax out/scrape the crap off the bottom. Obsessive cleaning might get me a few more miles out of the chain, but wtf has time to sit there and do a 5 jar cleaning system, then tongue off the chain to dry it?
Get a spoke, bend it into a hook, and thread the ends of the chain(s) on. That way, you don't have to screw around with a burning hot chain trying to untangle it to hang it up.
You can add powdered graphite, molybdenum disulfide, or PTFE if you want, but they make minimal difference as far as lubrication longevity is concerned.
By the way, liquid lubricants (including grease) are a higher fraction of distillate than paraffin wax, so if you throw a new chain in, it's just going to be displaced/float off to the top, where you can wipe it off when the wax cools. Science.