I have heard of this being done on older wooden boats, but I think that the idea has pretty much been discredited. There really is no good way to glass over a plank on frame wooden boat but that does not keep people from trying all kinds of ideas. The mostly widely accepted method is to refasten the hull
and repair all damaged frames. Strip the planking down to bare wood inside and out. Coat the living daylights out of the hull) with 3 coats of a saturating epoxy(both sides). Layup
3 or 4 laminations with epoxy
and heavy cloth. Fair the laminate and coat with an epoxy barrier coat. The short coming of this technique is that it adds a lot of work and sooner or later the planing will rot
out from the inside out.
The 5200 method, called for all of the steps from above except that after the hull
was saturated a layer of 5200 was applied and allowed to cure. Then the layers of glass were added. The 52oo was supposed to allow for small amounts of movement between the hull and the sheathing.