Spraying enough of that to do any good will add weight and likely ugly it up REAL quick.
Go over all the seams with an iron that is just hot enough to make the covering darken temporarily...this is SOP for ARFs anyway.
Sorry to here about you first bird. I hope you still have it cause it is amazing what can be rebuilt. at least scrounge every usable thing off of it wheels, LG, hardware. there is a ton of planes out there that you could use that on.

I was given a 60 size biplane crash (a Lew Andrews Aeromaster) It is a trash can case for most people but it is such a hard to find bird it WILL be rebuilt. also it can be a riot to build with other thing such as gutter pipes (SPADS) and base ball bats for fuses (combat planes) A trainer wing can be easily rebuilt no matter how bad if you remembered crash rule # 1 PICK UP ALL THE PIECES! balsa likes to go back together just do it STRAIGHT.