What was the problem with the covering on the plane? Wrinkles, holes, cuts? I have seen ARF's come out of the box with some wrinkles, thats normal. They were easily removed with an iron and/or heatgun.
A hair dryer isn't a substitute for a heat gun if thats what you tried. Hair dryers don't get hot enough to do a good job and may make it worse.
Check this link for Monokote application if you haven't already. Note the temperatures required.

http://www.monokote.com/monoinst1.html

I can't imagine doing a nice job with masking and packing tape. Take some pictures and shows us your masterpiece if you go that way.