Personally . . . I prefer to stretch a good condom over mine . . . that way you'll always be prepared . . . in more than one way . . . plus, if you don't cut it to fit, you can always carry extra rounds in what's left over . . .
I think that's a wonderful idea. You could use the glow-in-the-dark kind and never have to worry about fumbling for your pistol in the dark ever again. Also, ensure you use ribbed for the extra grip.