You'll find that fix doesn't last all that long as the heat breaks down the elastic pretty quickly leaving you with the same problem plus bits of loose stuff to clean up at slightly longer intervals than you do now.
A much better plan in your case would be to aquire an 87 or later fusebox (I believe it's the same box up to 94, but to be safe, I'll say 87-89) which uses the modern type fuse in it, do the straight up exchange (remove wires one at a time from the original one, plug them in to the corresponding spot on the replacement, repeat til done) and never worry about that stuff again.
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