I have a little hornbeam that was an air layer from a larger tree. Pretty sure the guy who did it peeled it like normal, used dyna gro gel, wrapped the area in sphagnum, tied the sphagnum on with rafia, then attached a small nursery container and filled it with akadama. Hope this helps.
From what I was told dyna gro gel is one of the better rooting hormones. Yeah just smear it on with a q-tip after you remove the ring of bark. Its really important to get it on the top end of the ring you remove because thats where the new roots will sprout.