Laytex will not stand any form of alcohol...unless spayed with a sealer that is "fuel" proof...and will stay on the laytex...

I have done two planes with latex, only on colortex....thinned with windshield washer fluid, 2/3 paint 1/3 washer fluid....
Has stood up for two years...and is easy to touch up..

Just took the mono to the local outlet and had they scaned it and they mixed up a quart for me..... $8.00 I think....That's enought to do several planes....

Do a cote lightely, dry for a few with a hair dryer...spray next coat, do same with dryer, apply next cote, let set over night...

This only for GASers, If you want to do a clear coat over the top of the paint, use Minwax water based clear for floors..

I have tried it with monocote, but with not too much luck....it stays on for a while and then will start peeling off...
colors are unlimited, paint is cheep, and the wife dosen't care if I spray the parts in the hobby room.

Just 2 cents worth.....