Use candle wax periodically and it should keep it together. You can also tape the ferrules with electrical tape in a spiral. I don't think that masking tape would do the trick since it isn't strong enough.
Either way you go, you do need to check the sections while you're fishing though, especially if you're doing a cast like the snake roll.
After 13 years of spey casting I have found that electrical tape is the best thing to use to keep ferrules tight on 2-hand rods. Even wax will allow the sections to rotate when casting long with double speys, snap-T's, snake rolls, and single speys after several hours. However, not all electrical tape is equal, avoid the real cheap stuff. The best electrical tape is the colored type available at Ace, Lowe's, Home Depot, etc. that runs around $3.50 a roll. It is best because it doesn't leave residue on the rod, is stronger than the cheaper stuff, doesn't get stiff and lose its ability to hold things together when cold, doesn't get soft and wimpy when hot, and the color can be matched to the rod blank.
As has been mentioned, the tape should be started on the male section (lower rod section) and run up onto and over the ferrule and then back down over the already applied wraps. Doing this has kept my thundersticks (a 16' 11 wt and an 18' 12 wt) ferrules tight when fishing the Skagit when casting a 10/11 RIO GrandSpey on the 16'er and an 11/12 RIO GrandSpey on the 18'er long-belly (100' belly) lines and type 6 and 8 11 wt sink tips. Wax was a dismal failure at keeping the ferrules tight when I used it on these rods with the long-belly lines.
In other words, why not use the best thing to keep the ferrules tight? And that is the high quality, colored electrical tape at $3.50 a roll.
Have always used some paraffin wax on my single and double handed fly rods ferrules. Broke one spey rod two years ago not sure if was due to not taping or a manufacturer defect in the blank. When using a floating line on the double hander I do not tape when I use a sink tip in the winter time I tape plus make sure the ferrules are waxed. Always check the alignments of your ferrules and tighten as necessary after doing a lot of casting.