Steve,
I have used ModPog to cover a giant scale R/C plane. The covering was Sig Koverall which has no adhesive backing. It worked very well. I had to thin it very slightly with water because out of the bottle it is very thick. I applied one coat to seal the wood and let it dry. Then applied the second coat and positioned the fabric before it dried. Then brushed a third coat throught the fabric. Adheres well. Shrunk the fabric with no release of the ModPog. FYI, I found it to be virtually identical to Elmers white glue. Having said that, that means you can use a hot iron to further seal the edges if needed. It is water based and is not fuel proof. I would not use it as a sealer. Too soft to sand. Very easy to use and clean up.
Good luck,
Paul