Not that I am aware of, cherrypicker989,
unless you shmear your penis with desensitizing jel, available in erotic merchandise shops or on the Internet. And even then, some of those nerve impulses obviously come from the inside, so you could feel those "pins and needles" regardless of anything brushing against your penis.

Another thing that may help is LUBRICATING the penis prior to having it stimulated. If there's a condom going onto the penis, be sure to put some lube inside of it. That will help with the friction but also ward off dryness - unless you're uncircumcized AND you're doing it barebacked, with a woman who literally oozes on her own. On the other hand, being uncircumcized could make you MORE sensitive to touch after sex, since the penis is covered entirely by the foreskin under non-sexual circumstances.

In either case, it won't hurt to lubricate while banging away...gently, of course
the Love Goddess

Re: post-orgasm penis sensitivity

Try rubbing tip of penis with olive oil it will reduce the post cumminf sensitivity!