Rhino has a command that lets you generate planar versions of the u and v curves of a surface so you can use them as a guide to orient your text. You must then also map the u and v curves along with the text so they will act as a placeholder.
We will now demonstrate creating the u and v curves and reapplying the text.
Select the cylinder and use the CreateUVCrv command to create a rectangle representing the boundary of the cylindrical surface.
Now you can Move, Rotate, and Scale the text so it looks the way you want it to be wrapped onto the surface.
Now use the ApplyCrv command to apply the curves to the cylinder.
Be sure to include the lines created by the CreateUVCrv command.