Thrasher,

I'm going to assume a couple things ( let me know if either is incorrect ). Am guessing that you don't have an instruction sheet with your material. Hurri is right, nothing is easier than using Coverite. You don't even need to use nitrate. Just iron it on using medium heat and final shrink with full temp on your iron. You'll notice immediately that Coverite sticks great and has monster shrinkage. Next to impossible to have a wrinkle that won't stretch out.Once shrunk, the surface ought to thump like e drum head.
Second assumption is that you are talking about SuperCoverite in white or antique white color. There was also SuperShrink Coverite. More on that later. Coverite ( the company) marketed a product called PermaGloss for a period of time. It was a prefinished product available in standard colors. The stuff was miserable. If that's what you have, then good luck using it.
A couple warnings about using Coverite: The fabric has a grain and it should applied with the grain running the length of your wing. Best way to handle this is to simply cut the wing panels down the longest dimension of the fabric. If you cut the panels with grain running from leading edge to trailing edge, you will have pronounced dips between the wing ribs. Next, If you are building a small ( .10 to .20 size ) model Coverite might be a little "much" for your structure. It has so much shrinking power that light models can be crushed by heavy use of the iron. If what you have is SuperShrink Coverite, you probubly ought to think about saving it for your .60 or larger models. Using Coverite will spoil you with it's ease of application!
A few words about finishing, Coverite is air-tight and requires no doping to fill it's pores. You simply wipe it down with thinner and begin shooting primer/surfacer. Be very careful about cutting into the surface when sanding. Probubly ought not use anything courser than 400, and when the fabric begins to show through the primer, stop sanding in that spot until the next coat of primer. If you do scuff the fabric, additional primer will be required to hide the mar.
Coverite is no longer available, and all us Coverite fans can only hope that someone will reintroduce it to the market. Enjoy , you will using the last of a great modeling product.