Personally, I would create a label of minimal thickness (0.002" or something) and wrap it around the outside of the cylinder to give me the base shape. I would then take those dimensions and move over to an image editing software, such as GIMP or Photoshop, to create an image that I can use as a decal on the label. The image creation is a whole other process in itself but if you have the artwork already then you can resize it pretty easily.
From there, you can take the image (my preference is a .png format) and wrap it onto the label surface as a decal. This is what I did below on this barcode tag. The decal tool is located here:
I know that's pretty high level but it's how I would approach it.