DO NOT FEAR THE FLOUR!!!
Yep. That's all there is to it.
Flour your rolling surface, rolling pin, cookie cutters. Heck, before I start rolling, I even dust my cookie dough with a little flour. If your dough starts sticking to your rolling surface, throw on a little more flour.
I PROMISE this will not make your cookies dry. I've made thousands and thousands of cut-out cookies this way using this cookie recipe. If I'm using a chocolate cut-out recipe like the Chocolate-Hazelnut cookies in the book, I use a combination of flour and cocoa powder.
So, don't worry about rolling between layers of wax paper, or rolling in sticky powdered sugar. Flour away!
Works for me!