A couple of thoughts (It's not something I've had to do)
Wouldn't you make the links on the navigation menu no-follow?
I'm assuming that you don't want search engines to index your members only content.
You don't want the members only content ranking for keywords do you (and if it's not being indexed then how can it?)
Would it not be an idea to try any get some value out of the inbound links by using 301 redirects to relevant indexed content when the user is not logged in?
I don't know what type of site/services you're offering, but if people following these external links to your member only content are potentially customers then it would be worth presenting them with a page that reassures them that the content they are looking for can be found within the site, present the benefits of becoming a member etc... Even better, If you can make the appeal relevant to the content they are trying to access.
Interested to find out what everyone else does!