Can I get a little clarity here? Are you saying that the strings are so long that when they reach the bottom of the tuning peg that you still have string to wrap to bring the instrument up to pitch and you have to continue winding and over-wrapping the string back up the tuning peg? If so, in my experience, over-wrapping strings on the tuning peg is only an invitation to several issues:
1) Tuning issues - at any time an outer wrapped string can work its in between one of the inner wraps and throw the instrument out of tune. If you have multiple wraps you have multiple possibilities.
2) Over wrapping could also lead to string breakage. The fiction of the string working its way into the under wrappings creating undue wear on the string coupled with the fact that you now have to to put more tension on the string get back up to pitch is a recipe for creating weak spots.
3) Now lets talk about the design of the tuning pegs. They are designed to push the string to the bottom of the tuning peg and keep it there. This was Fender's solution (like it or not) to create a better break angle over the nut. So, if you over wrap the string and bring it back up the shaft, you're decreasing the break angle and therefore defeating the entire purpose of the fluted tuning peg. And this opens up the possibilities for even more issues with the instrument. Used properly, no one should have any issues with these tuning pegs. And this falls back to the owner knowing their instrument. You need to know how long your strings need to be, based on the gauges you use any any other various factors you can think of, to get the windings to the bottom of the shaft and keep them there. The string manufacturers make sting sets that can be [custom] fitted to many different models of basses. Just because they make the string that long does not mean you have to use that entire length of string. Just like buying a pair of insoles for your shoes, you buy for a size range and have to trim them down for your specific size.
Oh, and if not -- never mind! lol