Some dogs that lick there wounds heals faster. But if its treated by a vet then yes cover it up so the pup can't lick the med off. Also some wounds that are covered up will slow down healing. So thats just something to think about.
The dog will more than likely just try to eat the bandage
Yes you can, but then it may cause healing to slow down as lack of air. There are also funnels you can buy at pet shop so dog cannot lick itself. Looks like a lamp shade and they are unable to access wounds