Amicable,
First and foremost, make sure that you are not allergic to anything and that the products being used are not the cause of this. Try switching to something else next time (do a test in a small area before you proceed). if you get the same results, then your skin is very sensitive. I also get a lot of itchiness and irritation but only for a little while. The redness and bumps go away in less than an hour.
What I usually do is put on baby oil after I am done waxing. Other things I have gotten with my waxing kit is the vitamin E oil based solution (from Nair) that has also worked well. If you have aloe vera plant/cream, use that. There are way too many over the counter creams and lotions just for removing the irritation and itching. Last but not the least, soak your hands/feet in cold water for a few mins or apply ice pack.
Vib