If you tie flies then you don't need anything new to wrap rods.

Here's my method:
Put the wrapping thread in a bobbin
Clamp the bobbin's neck in the tying vice
Wrap the thread on while holding(and twisting) the rod in my hands

I've tried the cardboard box trick and I made myself a wooden wrapping jig. I went back to this because I find that I have the best thread control this way. Sometimes the simplest ways are the best.