That's a cool old model airplane.

Just a suggestion...If you build the cabin version it will probably be a little easier to get your radio equipment inside. If it were me I think I'd make a jig to hold all the bulkheads in place while I run all the stringers along the sides. (A nice straight length of hardwood the length of the fuse will do) Being that the wing ribs are under cambered it might not be a bad idea to make one for the wing also.

I think that I would cover it using silk span and minwax polyurethane. If you use one of the iron on coverings it might warp the wing when it shrinks. They look cool with silk span to you can dye it different colors.

As far as glue goes there are many different types but I think that you could get away with framing it up using regular old Elmers for a model this light weight. It will also give you some time to adjust a part if you need to.

Just take your time, and you'll do fine.

There is plenty of experience on this forum and many who will help you out if you get stuck.