What about a glitter paint version? Reflective AND glow in the dark!

Depends how quickly it picks up light. I'm thinking of let's say you pass in front of a car's headlights. If the bright headlights actually cause it to glow visibly, even for a few seconds, that lets the driver see where you're going as you continue through the intersection.

I've seen welding helmets with glow-in-the-dark designs on 'em, weld for a second and they glow bright enough to be easily visible in daylight for a short period. Of course a welding arc is WAY brighter than car headlights...