Unless the incipient evidence is only cosmetic, by the time most folks find it in frames, trucks, wheels, etc., the part has already departed its original dimensions. Often that'll result in binding, out-of-gauge, warping that will stress adjacent parts, etc., blah, blah.
There's really no point by then of 'slowing it down', or 'stopping it in its tracks', ...were that even possible.
Dad's Christmas gift from his parents in 1934/5 was a Lionel 366W set...1835E, whistle tender, three two-tone blue 300-series passenger cars. The tender developed SEVERE zinc rot early on...
Lionel promptly replaced the tender. Dad kept the warped one...an object of extreme curiosity...and I yet have it along with the original set. (Notice in the second photo the sheet metal nameplate...split cleanly in half by the FORCES of Zinc Rot as it quickly developed!!!)
Well, we weren't so fortunate on the engine, however. I was born 10 years later. Bringing the train set down from the attic and setting it up around the annual scrawny balsam tree at Christmas time was sheer euphoria for me, one of those decorating 'chores' for Dad and everyone else. I must have been about 5-6 years old by the time he/we discovered that something was not right about the steam chest (cylinder block) on the engine. It didn't seem right...cockeyed, cracked, even loose when grabbing to handle the (heavy) engine. Dad took it to a friend's house. Paul, the tinkerer...and Lionel fan...disassembled the engine enough to identify the extreme zinc rot infecting the steam chest/cylinders) casting. A few days later we picked up the engine...it looked better...sort of. Paul had carefully attached (drill/tap) a sheet metal replacement strap over most of the damage that affected the mounting/alignment of the chest. Anyway, it ran...
...For a few more years. But, gradually, the zinc rot continued its 'journey' through the casting. And then we noticed that the flanges on the engine's drivers and trailing wheels were flaking to oblivion, too. By then we had decided that the train-around-the-tree was passe...and Mom wanted a 'fluffy' pine tree, anyway. (No more scrawny balsams!)
Fast forward to post-1966. Moved to Michigan following college graduation. Dad's 366W (still packed in the Electrolux 'streamliner' vacuum cleaner box) followed me. Dad said 'It's your problem, now!' I discovered through the office grapevine Brasseurs in Saginaw, MI. Took the engine there. They could get a replacement steam chest and new wheels. It's still as beautiful and functional as when I picked it up from them. Of course, unlike the experience with the tender, by the time the engine developed its problems, any 'warranty' period was loooong gone!
Sorry for being long-winded, but Dad's set had both the 'short' and 'long' zinc rot stories to tell. So, yes...metallurgically-speaking, that munching sound coming from your basement might not be rodents! It could be the dreaded ZINC RT!! And it might, indeed, NOT be from your most recently purchased $$$$ possession!
And, no...this sort of event is NOT part of the slogan "Model Railroading is FUN!" Of course, you're not alone, pal!...FWIW.
KD