[Speckul8r]

When I plumbed my house, I had some issues with Teflon tape. Still do occasionally. I've found that less is best, and 2 layers sounds right, but if it still leaks, old time pipe dope usually solves the problem fo me. I'm assuming that there is no cross threading involved.
I think I would take it off, one more time, and clean the threads real good with a brass or SS wire brush. Then wrap it and try it again. If it still leaks, go with the pipe dope.