Tip of penis is wrinkly and skin is peeling off. what can i do?

You've obviously: Exposed your favorite organ to some form of irritation or trauma and it's responding while repairing the damage. Avoid very hot water, use showers instead of baths, avoid soap/detergent or any chemicals or other topical junk == and just give it a chance to heal. It should quickly return to the penis you've grown to know and love. If not, check w/your doctor.