Questions about Latex possibilities

After not posting for a bit, I decided to :D 

Well, I have plans for a horned bat and I have an idea for the wings. I read a few postings about liquid latex and I'll certainly use it in the future. I had a question about liquid latex's other uses.

Is it possible to lay latex down on a flat smooth surface, in a pattern (such as a circle for example), peel it off and use that? I saw at liquid latex.com that you could make accessory that you take on and off if you add enough coats (for cosplays for example). ANd has anyone ever tried to use hot glue with it? 

Thanks you very much for any help :D