I had thought that one key fault with this kit (and the 'how to' videos) was how narrow the electrical tape is. It works great for compression, but it is very easy to have bunch up and create sharp or deep ripples in the cured lug.
My original thought was to find some wider tape, but your inner tube method seems so much better. A road tube would give a 2.5" wide strip. The packing of the gloves would be good for the tight areas around the chain/seat stays.
I'll be sure to try this one on my Mk2 bike.