Evil Dog, I don't think the gaskets you got are the good ones. If they are red in color they are definitely not the good ones. The ones you want that are the best are a medium to dark beige in color, and as you described about 1/8th inch thickness. They will work even better if you take a dremel tool and put a taper on the down facing side of the gasket. Basically you are just taking the sharp corner off the inside of the holes so it slides better for a good smooth finish.
As for the prices on GL, they do vary. I believe I have been paying about $17 a quart, but it can definitely be had a LOT cheaper. The reason is, is that it is nothing more than the coating they use to coat pencils with. I've heard you can buy a 5 gallon bucket of the stuff for around $70, but who needs that much at once especially since you have the evaporation issues.
A good solution would be to split a 5 gal bucket between 3 or 4 people. I don't have a contact to purchase it in quantity, but I know for certain it's out there and can be had, because it is used in other applications. They might not call it gasket lacquer, but a supplier would know what the coatings for pencils was called if it had an alternate name.
Three Rivers is OK and gives good selection on a lot of items, but they are not near as thorough on arrow shafting as Troy Breeding. He has a really big arrow building business and gives good personal attention. Give him a try, I think you will agree. He just happens to live about 30 minutes from me, and I visit every now and then.