Tom: I have done this many times, and just recently finished a Ringmaster in this fashion.
Rit is fine. You can use either the powder or the liquid.
I use one of those tubs kids use as sleds up here in wintry (I saw a flake today!) Michigan. Pour hot water into your tub, then some of your dye, stir, and let sit for a while.
Precut your silkspan. Then put it in the water. I find that about 90 minutes is a good time, but it depends on how translucent you want your 'span to appear. I have actually left the paper in for two days, and you get an almost opaque color!
When you lift your sheet out, hold it over the tub (or whatever container you are using) and let it drip for a couple of minutes. Yes, you are going to put it on wet.
Do it on the undersides first. You will get better with experience, and you want the top looking better. Also, you can wrap the top span slightly past the LE point.
OK: put it on wet, pulling and tugging the wrinkles out. Take a cloth, and work the excess water out of the LE, TE, tips, and area around the fuselage.
Now, use very thinned dope over the these very same surfaces. Do no dope the open area, because, usually, dope and excess water sometimes will leave a stain later. Pin the paper around the tips down, and dab a little extra dope there; use a little thicker stuff here, if you can.
Everything is going to dry really fast. Also, if you precut slits in the span around the excess perimeter, it won't fold up much when it dries and shrinks.
That's about it. Trim excess when dry.
I wish I knew how to post pics here. Then I could show you the Ring. I did it in fuschia, and it came out pretty well.
By the way, I think I am going to bring the Ringmaster in at 20 ounces, or very close. And this technique was a big help here, in that it adds minimal finish weight. Yes, Brett, it has an FP 15 on it; that was the only way I could get the wt around 20 ounces.
Oh yes, wash your hands afterwards!