In 2006 I did something like your thinking of with:
bulk cheese cloth & velcro dots to attach it to the ceiling.
Half the dot stuck to the ceiling & the other half under the cheese cloth. It stayed up for two nights before having to take it down. This was part of the main facade (in the que line hallway) for the Horrorfind Weekends Haunted House.
It was a wide/long hallway & I only had to decorate a little over 10 feet of ceiling space to the entrance. I hung the cheese cloth in long strips that wove back & forth along the space. Then I went back & shredded or frayed the edges with either some sort of knife or scissors.
* Please don't hesitate to contact me if you have any questions.
