First off, I have not tried this-- it is a completely off-the-cuff suggestion. Think creatively about the materials that are available in this fine electronics emporium, and substitute liberally if you find something better.
Start with Flesh for the Beast game, which comes with a free T-shirt. Throw away the game, and have the model don the shirt. Alternately, sweet talk a Fry's associate into giving you some pallet wrap, and wrap the model's torso with it. If there are no shirts and the Fry's dude is surly, try bubble wrap. This is where you decide whether you want an overbust or underbust corset and wrap appropriately, but be sure to make this underlayer a bit higher and a bit lower than you will want for the finished product, as you will need to protect the model's skin for the next step. We'll trim away the excess later.
Next, cover the short or pallet wrap with Duck Tape. In addition to generic gray, you may choose to use yellow or orange.
You want a very tight fit at this point, but no constriction. Wrap from above or below the breasts to just over the hips. Do two or three relatively even layers.
Add boning in the appropriate places by cutting lengths of Cat5 cable to the right length, and then fastening it to the corset with vertical strips of duct tape. Look around, though-- you may find some sort of rigid plastic that would make better boning. Once the boning is in place, wrap the entire piece with two more layers of tape.
When you're done, carefully use scissors to cut the shirt or pallet wrap neatly along the front. Cut straight down the center, and be careful not to injure your model. Blood is bad, m'kay?
Trim the top and bottom of the corset so that it is neat and shapely. You may want to put it back on the model for a moment to ensure that the contours are aesthetically pleasing.
Cut the back in the same way you did the front-- straight up and down along the very center.
Cut two lengths of network cable that are the same length as the corset back. Fold the back left edge of the corset over a piece of wire, with the edge inside, leaving about a two inch seam. The cable should run along the outside edge of the seam (which would be right next to the model's spine). Secure with several layers of duct tape.
Alternately, if you found rigid plastic for boning, you may choose to use it along the edges as well. A little ingenuity might go a long way here.
Repeat this process for the right back, and both front edges of the corset. Note: because we do not seem to have grommets at our store, we are using the cable for reinforcement. Before you punch holes, ensure that everything is sufficiently taped so that the corset won't pull apart under strain.
Using a hole punch, punch several holes in the duct tape, neatly spaced about two inches apart just inside the cable-reinforced edges of the front and back of the corset. The back holes should be aligned with each other, as should the front.
If desired, decorate the corset with any of the colors of electrical tape at your disposal. You may find other interesting decorations as well-- be creative!
Finish the top and bottom edges of the corset with additional duct tape. A contrasting color may work well here.
Use an appropriate cable to make laces. I'm guessing that telephone cord might work well, but experiment to find something of the right size, strength, and flexibility.
Place the corset on your model and lace it up front and back. Voila!