Moosehunter,
Nothing wrong with saving a buck - but I would be concerned about grit imbedding in the shrink wrap and then scratching hell out of my barrel. That is why there is a big arguement as to which rod is better - coated vs stainless steel. Will you ever get any grit particles embedded in the rod that are hard enough to scratch a bore - who the hell knows, maybe never.
I would also be concerned about getting a slightly tight patch into the throat and the aluminum not being strong enough to get it through the bore or back out. Also would question if it would be strong enough to drive out some of the stuck cases that I have seen (and created myself, I hate to admit - but that was back in my magnum days before I saw the light and switched back to the .308 non belted, non Ultra-mag, non short-mag Winchester).
I am afraid that your aluminum rod will not stand up to fairly heavy use - have never seen a jointed rod yet that was any good.
I believe that a person has to spend good money on rods, chemicals, brushes, bore-guides, patches etc.if you really want to keep a Lilja, Hart, Rock, Krieger, Pac Nor or whatever shooting to its potential.