I agree that natural fibers would breathe much better. At the very least, you could wear a cotton barrier (like a long-sleeved t-shirt) between your skin and the equipment.
Do you share the equipment or is it just yours? Either way, make sure you clean the sweat off and make sure the equipment drys between uses. Does the rash go away when you haven't played in a little while, or is it always there now?
If it doesn't go away, you might want to see a doctor in case it is something he can treat. Does anyone else on the team have this?