This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
The exact historical development of 氎 is uncertain. It visually combines 畾, 宐, and 毛, but the original semantic and phonetic roles of these components are unclear.
The kanji has no clear meaning, but its components suggest something related to cloth or hair: 毛 (hair/fur) beside a complex structure that might represent layered fabric.
For チョウ, imagine a long piece of cloth (チョウ as in 長い, long) woven from many threads, matching the complex layered shape of 氎.