I've heard of this too. Works best for flat surfaces. I'm thinking airliner fuselage center sections and wings would be really good candidates. The second link describes the difference between peel ply types.
http://www.clcboats.com/shoptips/epo...se-fabric.html
http://www.cstsales.com/peel-plies.html
http://www.cramerfabrics.com/products/peel-ply