Does your friend want to wrap it himself or does he want someone else to do it? What you are suggesting can be done but I would suggest a little different way. To get the desired look that you are proposing the strips would have to be rather skinny, there really isn't a lot of real estate in a bow handle, and the piece of leather to fully wrap one is not really that big. The purpose for wrapping a handle is to build it up for the feel of the grip, to match the person shooting the bow, and for a better ability to hold on to the bow, wood and other materials being slickery espically when cold. Looks are a secondary reason for wrapping a handle.
Hope this helps some..................