I'm all about wool, too.

My outer layers tend to be very lightweight windblockers. A jacket with vents and zippers, that can get tied around my waist if it needs to come all the way off. Arm and knee warmers get pushed down around the wrists and ankles when they're too warm (but below 50°F I don't have any bare skin, so I'd be wearing long sleeves and tights). Shoe covers and heavy gloves just stay on, that's okay with me because my fingers and toes are almost never warm enough, even in summer, let alone too warm. A helmet cover, or a light cap that requires only a quick helmet adjustment - either can get shoved in a jersey/jacket pocket if it gets too warm.