I've used that to bind in my early days transitioning. It was in the exercise department with the knee braces, stretch bands, sports tape, dumbbells, etc. It worked alright...too bumpy, but then again I'm pretty anal about how flat my chest is, it's never flat enough. These days I use the tri top from underworks.
If you wanna go cheap, control top pantyhose are an option as well. They require some modification but for me they were pretty flat...they hurt though, and cut off circulation...
And I hate to say it but when I was being really fckin cheap I used tape, DONT DO IT.