That's a BIG piece

. Even if you have done "large" pieces before, this one calls for some special considerations - including labor and logistics as well as engineering (which I think is woefully inadequate by your description).
Have you actually found a piece of acrylic that wide (the 120 part isn't a problem)? And have a vendor who can deliver it and you won't damage it simply from handling
before you even work on it?
You can't go wrong with the welded aluminum strainer - with cross supports and you can drill holes through it and screw it to the interior of the frame.
1-1/4 x 3 sure seems too small for the moulding to me, even with the strainer. You need a huge lip on the moulding - I would mill 2-1/2 x 3 or 3 x 4 at a minimum In your original specs, is the 3" the face or depth?
If it is the face, you are way under scale. Your need at least a 3/8" lip, probably better with a 1/2" - or you can have a smaller lip and undercut it so the acrylic will have adequate room for expansion. That doesn't leave much meat for a rail that is 10' long - even if a strainer is screwed to it from the inside.
If it is your depth, with a 1/4" thick lip and then 1/4" for the acrylic, that leaves only 3/4" for your setback, float board and strainer. I just don't see how either dimension makes sense.
What are you making your setback from and how deep is it? 8 x 10 acrylic will bow, even at 1/4" thick so you need some depth.
Have you considered that an 8 x 10 sheet of acrylic @ 1/4" weighs about 114 pounds? Have you determined how you will lift the piece to maneuver it while working on it? Screws and plugs will hardly support miters as small as yours with the dimensions you give. If the piece is flat, how will you raise it vertically and then lower it off the fitting table?
If we were doing this piece, it would be fit vertically and never laid down on a table. Do you already have an "A" frame fitting station that is lit well so you can see debris and smudges on the acrylic?
Re: your platform, what are you going to attach the rag with?
How will you reach the middle of the pieces being seamed?
What will you do to prevent the rag from warping, especially if you use a water based adhesive?
How will you attach the canvas to the coroplast?
Are you planning on cross gluing coroplast together to make a platform? Are you using 6MM at a minimum?
What will you do to make the joints of the coroplast flat and smooth enough so you will not see a telegraphed seam through the canvas?
I would seriously consider a honeycombed or hexcell platform. I don't think you realize the tremendous weight and stress a 8' x 10' piece has.
Are you gessoing the canvas before attaching or afterwards?
How are you going to hinge this piece?
Do you have doors large enough for the piece to get out?
Have you found a truck large enough to transport it?
Get it from the truck to the client's space where it is to hang?
I would be really interested in hearing your quote

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