Nice effect and good job.
Have done the same myself with contact cement. With the lugs mounted, it is not going anywhere. But it will come off pretty easily as I changed it a second time to match new drums. Nice solution.
I say, why not? I have seen some pretty scratched-up chrome shells that would have looked great with the right wrap on them. I think I would use the double-stick tape. Of course, beaded shells would be a bit of a challenge.