Much easier way to do this is with :
CHICAGO LATEX PRODUCTS
Rigid casting latex - #501 - Rigid casting material
Slushes and brushes like latex. Once it hardens it's as hard as stone, sandable, paintable, and still bends. Takes all rattle cans and even chrome paint.
So, as opposed to bonding to create one thick layer of plastic, I'm actually creating many brittle layers? Makes sense. I'm hoping it will still increase the strength. Pushing a pair of scissors through 1 sheet of paper is considerably easier than pushing it through 10.
Stay far away from natural latex...
It rots, and many things make it react.. no fun at all.
Now as for neoprene, its a man made rubber, wet suits are made from it. And you can buy it in sheets already. This is like going back to platidip.
It's not natural latex. I've used this method for several costumes and it works very well.