Hey Steve,
Yes they do. It's actually something Tom Morris of "Stunt News" fame made popular among modelers by using it on his Cavaliers. Actually I had this same covering on both my Gold Cavalier II and my remake of my 1969 Sabre of 2 years ago (unfortunately no longer with us). This product is known as "Polyspan". Goes on with dope, shrinks with heat and then you can finish it with either dope or polyurethane (Better known as car paint).
Yours in STUNT,
"Champione"