I'm going to throw my 2 cents in and back the watered down carpenter's glue/PVA method. 1 $6 bottle of glue covered my chest, abs, ammo belt and minigun. That was 5 coats each, plus I got to glue wood together. That probably would've been 6 cans of plastidip. You just have to be more careful to avoid runs with glue.
If you get cans of the brush on plastidip. It's only about $6 (in the US) and it goes pretty far. It only takes 2-3 cans to do a whole suit. And that only requires 1 coat. So it depends on where you are as to if it's cost effective.
I only use spray on for the helmet. It's also about $6 a can but it doesn't go NEARLY as far. It gives a nicer finish but you need 3-4 coats. That why I use it on the helmet. It's the main focal point of the suit.
I found that the brush-on Plastidip gives wonderful results if you thin it before brushing it on. It goes on super smooth and adheres very strongly to the foam. I thinned it with Xylol.
Well, I have no issue getting wood glue. The company I work for uses a lot of pails, so we got a 100 mostly empty 10 gallon pails of wood glue. My brother drained out the glue and we have 3 full pails from that. so I am golden.
I'm going to throw my 2 cents in and back the watered down carpenter's glue/PVA method. 1 $6 bottle of glue covered my chest, abs, ammo belt and minigun. That was 5 coats each, plus I got to glue wood together. That probably would've been 6 cans of plastidip. You just have to be more careful to avoid runs with glue.