Can You Use A Sealing Grease With Teflon Tape On Old Plumbing?

I am trying to put a new galvanized nipple into an old, corroded galvanized tee. It is nearly inaccessible, and swapping out the old tee will be a huge mess I hope to avoid (concrete, tile, etc broken out and impossible to match). Should I use only teflon tape or teflon putty, or can I also use a grease. If I use grease , what type- I am inclined to white lithium based but don not know how it holds up in water pipes.There is no old styler pipe dope in the local market.