In terms of sealing, after the first day or so it becomes less important, if you got away with it. They'll shed water real quickly sans the bark. Keep them in a relatively wet place for a while, maybe throw a tarp over them. You just want to slow down the drying on the newly exposed wood for a few days/weeks. Definately don't want to leave one out in the sun and wind. Leave stuff like elm fairly large so it won't curl up into noodly shapes as it cures. If you do break it down, get down to near bow size and put it on a caul or something to help train it initially.
I'll swap you something for a perty stick 'o dat winged elm, if you've a notion and enough to share. I just need a little piece, nothing like a whole big quarter or whatever. Mostly I got osage for trade. Maybe have a look see at Pappy's in May. May be able to work a big quarter down and fetch off what part I'd need leaving enough for another bow. Might depend on whether you or Pappy has a bandsaw to part one say 2-3" thick, cuz I ain't looking to split out a stave from elm! 1 1/2" x 72" wide would be plenty for me.