Provided are topical analgesic compositions and methods of preparing topical analgesic compositions comprising a stable nano-encapsulating matrix film. The topical analgesic compositions and methods of preparing topical analgesic compositions may be suited for roll-on applicators. Topical analgesic compositions may include 12 to 16 wt. % menthol; 4 to 8 wt. % camphor; 2 to 15 wt. % film-forming polymer; and 50 to 70 wt. % solvent. To be used in a roll-on applicator, the topical analgesic composition has a viscosity from 800 to 1400 centipoise.