My AEM uego wideband has been pegging from lean to rich continually, while driving normal and WOT. I am thinking the sensor is bad. Any ideas?

I just got a wrx like two weeks ago and im already in love. i was wondering if anyone had any ideas on how to waterproof the cold air intake it came with. the filter is only 6 inches or less from the ground and i don't want to run the risk of hydro-lock. it rains alot in the winter where i live...