It could definitely be used to make a corset! It's actually a very common way people make their first basic corset. I would highly recommend studying existing corset patterns online. It will help you to see how corset cinching patterns generally look and give you better judgement in how to alter lines once the plastic wrap is rolled out. This method will give you a bodice pattern to your actual size, but it is up to you how you want to sculpt your silhouette.