That is the correct stuff. Hopefully water based so as not to be aggresive to your or anything else. Apply to both the drum and wrap, as directed on the can's instructions. You get one shot a attaching it, so have a friend there to hold the drum and then carefully place the first edge onto the drum and slowly smooth it down working from the starting point slowly down to the terminal point.
Good luck with the task. If it starts to go south on you, have some common phrases ready to release to exhaust the frustrations. Yes Sir