I like this idea, but think it would be more trouble than it is worth.
I've been tossing around the idea of Plasti-dip ping my Cherokee. THere are a bunch of videos on Youtube. Might fit well within you budget and save you the trouble of trying to apply large sheets of wrap without bubbles, wrinkles, stretches... Also, if it doens't look good, just peel it off!
99 Sport, 3.5" RE front coils and Quadratech HD rear leafs with RE AAL, Rusty's shocks. RE HD ADJ Track Bar. RE Hack n Tap SYE. 32"Falken Mountain Peak AT's on 15x8 (4.5"bs) procomp rockcrawlers. YJ Front Brake Lines. 2.5" IRO catback with Magnaflow cat. C4x4 Tow Hooks. Rear Diff Guard. Warn Front Diff Guard and TC Skid. Yakima rack. Mega Warrior Safari Rack. Cobra CB. AJ's Rocker Guards. JCR Stage 1 rear bumper. JCR Stage 4 front bumper. ORE front steering box brace.