Put a certain Quantity of the Powder of Myrrh upon a Fire-Shovel; when it is red-hot, expose your Face to the Smoke, which you may gather by covering your Head with a Napkin. Repeat this Operation three times; put the Shovel again into the Fire, and when it is quite hot, fill your Mouth with White Wine, and sprinkle the Shovel therewith, and then receive the Smoke as before. Do this three times Morning and Evening as long as you please. The Proprietor of this Secret assures us it will work Miracles."
This sort of herbal steam bath is still commonly recommended in modern books on natural remedies. (Although they usually say to put your face over a bowl of hot water, not a red-hot shovel!) As to the use of myrrh specifically: myrrh has some interesting qualities that researchers are still studying; for instance, myrrh has been shown to have anti-inflammatory and antioxidant properties. Plus, it's one of those really ancient forms of incense that you find in the Bible and other texts. It does appear from the recipe above that the idea is to burn the myrrh, although the bitter scent may take some getting used to.
In summary: this is one of those old recipes you could try at home (with some safety modifications). But no promises about the effectiveness. After all, if there really were a miracle wrinkle cure, no one would have wrinkles.
Source: Abdeker: or, the art of preserving beauty, 1756.