while(<>) {
    s{ \b([bcdfghjklmpqrstvwxyz]?)(\w+) }
     { if($1) {$2.$1.'ay'}
       else   {$2."way"} }egix;
    print;
    }

##</code><code>##

while(<>) {
    s{ \b([bcdfghjklmpqrstvwxyz]*)([aeiou]+)(\w*) }
     { if($1) {$2.$3.$1.'ay'}
       else   {$2.$3."way"} }egix;
    print;
    }