The heat gun is a must. I have even taken 20 year-old dash pads and made the vinyl pliant again with a heat gun.
Here's where I think you'll have trouble: I once used a high-quality spray adhesive to bond a piece of vinyl to the cardboard rear deck (or package tray, whatever you call it) in my 240 and after 6 months, the heat from the sun hitting that black vinyl had melted the glue enough that the vinyl peeled and flapped in the breeze.
I used a very heavy-weight, fabric backed vinyl from the fabric store (about $15/yd) and Permatex headliner spray adhesive, and even without the complex corners and stretching, the glue failed in the heat. I cannot see a re-covered dash faring any better. Prove me wrong; I'd love to know that it is possible.
Have you considered a hard dash? I have thought about an all-wood dash built on the metal frame, or a painted fiberglass dash. BTW, the fiberglass thing has been done. A Turbobricks member encased the dash in fiberglass (possibly after stripping off the vinyl), then sanded and painted the whole thing.
Good luck, and give us updates!
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