I think I was the one who first mentioned using super glue on balsa baits, but I only make them occasionally, and then it's one at a time. It is expensive.
I would probably use two coats of thinned D2T if I were making a bunch of balsa baits.
I've used Gorilla glue, the kind that foams, for laminating pine together to make thicker blanks, with no failures. I moisten both faces of the wood before I apply the glue, and clamp them together and let them sit overnight. I think the glue, which is drawn into the adjacent wood by capillary action (that's why I wet the two sides first) is at least as strong or stronger than the wood itself. I've tried hitting a cutoff that's held in a vice, and the wood breaks, not the glue joint. The foam out excess is soft, because it expands and foams when it's exposed and unclamped, but the glue in the clamped joint is hard as a rock.
Balsa is a softer, weaker wood than pine, so, if I were thinking of using it for laminating balsa, I would do a test to see if the glue joint breaks before the wood. I just don't know how deeply the glue will penetrate balsa.
Another potential problem with laminating balsa is that drill bits might drift because the glue joint, which is typically in the center of the blank where the hardware attaches, would be harder than the adjacent wood. Like trying to drill into a hard grain line.
If you use a through wire system, I'm pretty sure it would work fine, but you really should make a test laminate with a through wire to see for yourself.