Yes you can but it doesn't work quite like you think it does. It would be better to get a pack of PDA LCD protectors. The surran wrap would work but you would need a case that pretty much covers all sides to the iPod to hold it in place (unless you use tape).
The plastic covering is OK but it is hard and if something gets underneath of the cover it will scratch your iPod. That is why I recomend spending $15 on a 15 pack of LCD PDA protectors, you can use them to cover your whole iPod and they are soft and flexible (some of them, some are hard).