I don't like the idea of shrink wrapping. Think condensation, it would be trapped in there bad.
My summer storage:
-add seafoam to fuel tank (enough treatment for whatever size tank you have), completely fill tank, and run sled long enough that it is through all the lines and carbs. NO ETHANOL...if the gas might possibly have ethanol in it, I would completely drain it. Many stations offer non ethanol premium, at least in my area they do. My sled has to have premium, so I just always use non ethanol premium anyway. If you don't have access to non ethanol gas, it's my experience that you will have to clean the carbs 100% of the time the next season.
-run sled and hold oiler wide open. You can also just fog it. Run it this way until it is smoking pretty good and requires you to mess with the throttle to keep it running. I feel this is the most important thing to do to get oil down into the crank and protect it.
-I have painted triple pipes so I coat them with wd40 so they will shed any water that gets to them.
-hit all grease zerks.
-some like to remove the belt so it doesn't stiffen in an oval shape. Just pop it off of the secondary so it can be in a relaxed position if you want. I personally don't worry about this.
-I have 2" paddles on the track, so I turn a short 2x4 on edge and set it under the track so they don't take on a bend.
-I put some steel wool in the exhaust outlet to prevent mice from making a nest in there.
-My factory cover long since gave up the ghost and I have a nice waterproof universal cover that I put over it.
-Pray for snow.