I like the 3M headliner adhesive idea.
I have used the leather as a stencil to cut a matching swatch of Pacific silver cloth, and then just held leather and cloth together during the lacing, but that's a bit cumbersome.
I prefer the feel and strength of leather, and was concerned about the tannins, but I've been wrapping my horns for over 3 decades, and as long as the leather is lined with cloth, I haven't seen any effect on the silver upon removing the wrap. The one time I didn't add a cloth layer, the wrap moderately tarnished the silver. Polished right up, but nevertheless, I've always used a cloth protector since.
I roll the leather at the edges and punch through both layers. This adds reinforcement to the hole and makes a tidy edge.
I've tried using leather lace, but I prefer the results using plasticy lanyard lace (it's strong, lies flat, and is just elastic enough to make it easy to work with).
I like the look of closed edges, so to get a precise fit, I take numerous incremental measurements around the bow, and transfer the measurements to a paper template. It makes a very irregular shape. Once I've confirmed the template sizing around the bow, I add a margin for the folded-over edge.
Between the iPhone camera and the baritone's tight angles, it's a little hard to see, but shows the mating, rolled edges:
IMG_0832r.jpg