Just remembered i have a bottle of the this stuff! It's supposed to be used for fitting windows and canopies etc, as a glue of sorts. I haven't had much success with it used by itself, although I have used it to run a seal around the edge of a canopy or windscreen, after fixing the latter with PVA.
For making small windows and lamp lenses, the material to use is Micro Kristal Klear, which is basically a 'refined' PVA, which dries clear. It can bridge small openings, forming a clear 'skin' when dry, and can be used for fitting canopies and making small 'dome' type lamp housings.
I normally just use a good-quality clear PVA for the same purpose, and for doung wing tip lights, this is built up to form the shape, allowing each application to set first. For a transparent colour, i normally just mix a spot of colour with gloss varnish or, if using acrylics, the same with Johnson's Klear. this is 'painted' onto the penultimate application of the PVA, then the final PVA is applied, followed by a coat of Klear when set.