I have used exterior latex before to paint a radio control airplane. This was a scale WWII P47 with a wing span of 86 inches. The entire aircraft was polyester fiberglass primed with automotive primer. I went with flat latex because it more closely approximated the paint job that was on the planes of that time period and the color match was easy with the mixing at the local stores, This P47 was powered by a 2 stroke gasoline engine of 62cc. The finish was extremely durable holding up exceptionally well to the gasoline. I did this following an article in a popular radio control magazine.
Now with the Lizard Skin: At the Louisville NSRA Nationals I saw a demo of Lizard Skin. When I saw it it looked like thickly applied paint. It did not have a smooth surface, it actually looked like well...like Lizard Skin. Hence the name I assume. In order to get it sprayed with enough film build it is going to have to be applied thick. The Lizard Skin guy said it could be applied either on the outside of the bottom or on the inside. Since the bottom of my 34 is painted I will be applying my mixture to the entire inside floor. roof, trunk, doors, and firewall. The instruction for applying Lizard Skin were no different than what you would see for applying any kind of paint. Free of dirt, debris, oil and grease. I saw the gun he was selling and it was nothing more than a under coating gun, but with a smaller tip. The tip was about 1/4" compared to the 3/8" of an under coat gun. It was a suction feed gun that has a tube you put down into the material. Personally I would not want it on the outside of my car because of how it looks. On the inside ever thing is going to be covered by upholstery so it will not be seen. I have the utmost confidence that the exterior latex will adhere extremely well to the underside of the roof and will hold up very well also.
I will take some pics of the process and the results and post them here.
Here is a picure of the P47 that was painted witth latex house paint. That photo is about 5 years old and the plane still looks good, no I have not crashed it