As others have pointed out already, SLIP is merely
used as a means of
 framing packet data (e.g. IP, OSC) on 'unreliable' streams (e.g. serial
 lines). Some clients (e.g. PureData) even use it for 'reliable' streams
 (e.g. TCP). 
Got it.  SLIP frames the data, but does not do retransmission.
  First decision you have to take is if you want to go
UDP or TCP. As you
 want to do live input, TCP may be too slow on wireless because of
 frequent retransmissions.
 Depending on what you want to do, TCP may just be good enough. Thus
 simply use any of the available OSC and network MIDI libraries
 (RTP-MIDI, ipMIDI, ...) in TCP mode (if the library should support it). 
Why,
exactly, is existing MIDI/OSC-over-TCP due to retransmissions?
We're talking about a 31.5 kHz real data stream, why is that necessarily
slow in response when encapsulated in a wireless connection whose speeds
start in the megabit range?  Is timeout detection really that long?  It
is sounding like we need a much shorter timeout for this, something a
lot more like DNS-over-TCP?
  If you need it to be more responsive, you want to use
UDP. As you have
 seen, UDP packets tend to get lost on wireless. The solution is to use a
 means of transport insusceptible to lost packets.
 For OSC, you can use TUIO1 [1] or TUIO2 [2]. They quite elegantly
 circumvent the problem of lost packets by transmitting (almost) full
 state information. There are numerous implementations out there [3].
 [1] 
http://www.tuio.org/?specification
 [2] 
http://www.tuio.org/?tuio20
 [3] 
http://www.tuio.org/?software
 For MIDI, use RTP-MIDI [4] with enabled journaling. The RTP-MIDI journal
 enables clients to recover from lost packets (the journal contains
 critical state information). I am not sure whether there is a readily
 available implementation of RTP-MIDI journaling for GNU/Linux, though.
 [4] 
https://tools.ietf.org/html/rfc4695
 As a workaround, it may be fun to encode MIDI to TUIO at the sender and
 decode it back at the receiver...
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