You waxed to get smooth, not to get red bumps.
Immediately after waxing, swab the area with an astringent containing salicylic acid (like Tend Skin Liquid or Clean & Clear Deep Cleaning Astringent) to dissolve the dead skin that can trap hairs. Then layer on a hydrocortisone cream or aloe gel to reduce redness and swelling. If the red dots don't go away after a week, you may be looking at an all-too-common case of folliculitis—an inflammation of the hair follicle frequently caused by bacteria. Washing with salicylic acid cleansers daily can help (Avon Clearskin Blemish Clearing Acne Body Wash has 2 percent of the ingredient). If there is pain, tenderness, or swelling, see a dermatologist to rule out bacterial infection.