I've tried Carmex awhile back....it is similar to vaseline in texture. Lipstick on top doesn't work.
If you want a protective lip balm, maybe consider one of the tinted ones, that way you dont have to use a lipstick. I'm using Beekmans tinted lip balm, and sometimes the clear, and I still can apply my lipstick over. I use a light layer of the balm, maybe 1 or 2 swipes, that way my lipstick goes on nicely. Carmex is thick and gooey....may be great by itself. I also like Burtsbees, and Blistex.