What Causes Red Itchy Rashes Along With Flaky Skin On Scrotum And Penis?

I am a male, age 72. In the last several months I have developed this red rash like condition on the scrotum and under side of penis. The itch is overpowering. About every week or so the skin will peel off in dry flakes. Any information or suggestions would be greatly appreciated. Thank you Tommy G. Dean