Hey Buford,
Yes, the right kind of paint would work as a replacement for a skin of some kind. But this stuff is not cheap. I think I paid $87 per gallon. (Makes gas seem kinda cheap, eh?

)
The toughness, adhesion, water-resistance and appearance of this product is outstanding.
UNIFLEX 255 Aliphatic is a two-component elastomeric abrasion resistant polyurethane finish/final coating. It possesses high tensile strength as well as an excellent balance of elongation, hardness and abrasion resistance resulting in long term wear and impact resistance. It is highly water-resistant and obtains a tenacious grip on properly prepared surfaces. It is a 70% solids mix. UNIFLEX 255 Aliphatic can be used as a topcoating for ELASTUFF 120 or on its own as a final coating for wood, fiberglass, concrete or steel. It produces a smooth, semigloss finish, and is available in White, Flint gray, Burlap, Sandstone, Brownstone, Turf Green, Tile Red. Coverage is approximately 100 sq. Ft. per gallon, and at least two coats are required to get proper film thickness. It applies easily and is self-leveling, even on vertical surfaces. Coatings will cure tack-free in 2-3 hours at 70° F temperatures. The unused UNIFLEX 255 Aliphatic can be covered and will remain usable for about 24 hours. Thinning can be accomplished by using small amounts of xylene.
UNIFLEX 255 Aliphatic is sometimes used as a topcoating for ELASTUFF 120, but can be used by itself if traffic or wear conditions are not severe, such as on boat hulls, walkways and home decks. It cures to a slick matte-finish surface and if traction is required then sand or pumice needs to be broadcast immediately onto the next to last coating or mixed in with the final coating. The color is absolutely stable under all sun and weather conditions. UNIFLEX 255 Aliphatic is the toughest elastomeric coating you can put on any surface. It is compatible with CPES™ (Clear Penetrating Epoxy Sealer) and all our fillers and resins.
If UNIFLEX 255 Aliphatic is applied as the primary coating, all surfaces must be primed with CPES™ (Clear Penetrating Epoxy Sealer), or if on steel with Primer 302 (special order).
For plywood it is beneficial if all side and end-grain surfaces are completely waterproofed with the UNIFLEX 255 Aliphatic, ELASTUFF 120, or an epoxy resin such as our Layup & Laminating Epoxy Resin™, or sealed from any moisture penetration with 3 applications of CPES™ (Clear Penetrating Epoxy Sealer).
The quality is remembered long after the price is forgotten, so build your teardrop with the best materials...