Bike tube: high durability and pressure
Please, don't even joke about that. A single bike tube will never get too much pressure. I only will reccomend what I call CPS tubing, latex rubber tubing from McMaster. That stuff is much better, I admit is more expensive and you have to wait for it to arrive, but you can practically specify the thickness.
If you want to see a "Homade CPS", look no further than this: http://forums.sscent...?showtopic=1261. 63 foot range isn't too bad for a water gun (effective range is 58 feet). Saying that a modded CPS 2500 which shoots water maybe 45 feet at most gets over 200 feet in range, one can only imagine how well that gun would perform shooting a Nerf dart.
I have made a Nerf homemade with a tube that is 3/16" thick just to test it (Note: it wasn't cemented together because the tubes are so low pressure). That performs similarly to my recent air pressure Nerf homemade. Actually a little bit worse, but that may have been due to leaking because I didn't cement it.
I actually have been working on a semi-auto system using a CPS tube I have. I'm making it out of leftover parts and now I don't think I'll be able to finish it. If you have the money, I will recommend making an air backpack and using a regulator to save you a lot of time. The CPS tubing stuff is constant pressure, but it's too much of a hassle to work with. I've seen it all happen to the homemade stuff, bursting off the barbs even with tubing clamps on tight, popping, the fact that it gets thinner with use, it's only for water guns. Maybe as a cost effective solution you could use it, but a regulator with an air backpack set-up should hold more air and be more powerful.