Dave:

One word, imagination. But seriously though, it would depend upon the scale of the of the model. What is the height and centering of the original corrugation. If the original is 1-1/2" high, and your model is 1/2" to the foot, you would divide the 1-1/2" by 24 (12"/1/2") and the result would be 1/16" high on the model. It is fairly easy to get too small for certain details on small models. What about ink lines for simulated corrugation. Another would be glued on fishing line at the appropriate centers before painting, etc., etc.

Jim Fruit

Do you want a simulation or use the real thing? 

http://gscalecorrugatedmetal.com/

Fulton Hungerford did it with vacuum formed plastic for his rubber scale Ford Trimotors. I can't put my finger on the magazines right now but the one I saw was at Glenview in 1970 (?).

Dug further. He did it by making a skin of dope brushed onto the back side of a form made from aluminum foil that had been pressed onto a Monogram plastic model. The skin was peeled off the foil and very carefully applied to the rubber model. The result was very convincing.