A quick Internet search failed to provide a list of ingredients, but I did find the application instructions…
Spray a mist of Dream Tan Vazkulizer over desired area, rub in, and within seconds you’ll feel its heat intensifying effects. It is normal for the skin to turn red briefly immediately after Vazkulizer is applied. This effect may last 10-20 minutes, but is only temporary and completely safe.
This leads me to think that it’s based on some form of skin irritant such as methyl salicylate, menthol and/or capsaicin . The experience of members here suggest those are not things to apply to the thin and delicate skin of the penis. They may cause temporary dilation of the blood vessels of the skin, but do little or nothing to the deeper ones we’re concerned with for PE.