Definitly been done before for a three-wheeler (1959):
1959 Velorex Oskar
It does seem like something like this would be easier to rig than fiberglass customs... strategically bolted/bent aluminum strip for the guides, maybe some kind of sailcloth to cover? It would need to have low wind penetration, which might be incompatible with "stretch" (since the weave is loosening as the fabric stretches).