I just had the same problem in not sure of what to do with prefinished oak flooring I installed over 10yrs ago. After researching I decided to remove the prefinish. Sanded down to bare wood. Most manufacturers recommend not trying to recoat prefinished floors. One or two say it was OK if you followed their system, which involved more steps than just sanding. I used Polopalz Supreme (
http://www.poloplaz.com/products/reside ... upreme.php) You will have to sand now that it's peeling. One of the more experienced pros, can give you a more definitive answer.