You wear the Gel wraps under your fight gloves.
If the fight gloves you have purchased are too tight with the gel wraps underneath i recommend using hand wraps instead, a guide to a correct way of handwrapping can be viewed here:
I wouldn't use those gel wrap gloves in combat personally.
As for your "mma simulation" i strongly advise not to use the UFC gloves which are 4oz in weight for sparring.
Why? well at 4oz the gloves are merely designed to have minimal form of protection for your hands, they are not designed to protect yourself and most importantly your sparring partner. taking full power shots with those gloves can damage your hands/wrists and cause permanent damage to your sparring partner.
My suggestion is to buy 14-16oz sparring gloves such as these:
You can buy standard everlast/rbk boxing gloves from your supermarket if money is an issue, just making sure they are 14-16oz in weight.
You will struggle grapling wearing heavy boxing gloves, but if you are sparring ideally in tuition its best to seperate your standup training from your grappling training, mixing shoot and takedown defense in between.
If this "mma simulation" you and your friends plan on participating in is in actual fact NOT sparring and more of a fight fest then yea go for it wear your 4oz gloves, but i can guarantee:
* people like me dissin your stupid ass youtube vids
* and most importantly: you won't learn anything.