A watery, stretchy discharge in the days around ovulation is a normal hormonal pattern, but this much for four to five days straight, keeping your inner thighs wet, points to more being produced than usual, or a mild vaginal infection adding to it. The skin breakdown and peeling you're describing comes from the constant moisture and friction, not a separate problem.
Next Steps
Change your underwear or add a panty liner when the discharge is heaviest, and keep the inner thigh skin dry with a mild barrier cream until it heals. If the discharge develops an odour, itching or colour change, a vaginal swab can check for infection.
Health Tips
See a gynaecologist if the skin doesn't heal within a week, the discharge keeps increasing, or you develop fever or pelvic pain.