Here is just a thought (and I know nothing about DIY), Awesome idea Frawg & Rock, but to just modify your idea a smidge.
What about using DynaGlide continuous loops instead of the paracord loop, with Cuben-loops attaching it to the tarp?
Or, on second thought, you should have a 'safe' place for the connection to fail, and dynaglide/Cuben won't fail nicely.
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