It just occurred to me that this could be applicable to hammock camping and decided to share. The military blanket wrap is a method of wrapping up warmly in a blanket that puts layers both under and over you and is relatively secure.
Basically, you lay the blanket out with your head and one corner and your feet at the other. You pull the bottom corner up over your feet and tuck it under your heels, wrap one 'wing' of the blanket (side corner) around you and tuck it under, and then wrap the other 'wing' around and tuck that under too, slither your arms into the burrito, and, if you want to, pull the head corner over your face like a hood.
Try it, it's quite cozy and warm. The video I originally saw of it (or was it a set of pics? Can't remember) used a military issue wool blanket, which is not great weight-wise but very warm apparently.
Has anybody tried this? It's very warm, I've gone nights around freezing (perhaps even a bit below) with just a light quilt wrapped like this while tent camping. Seems perfectly applicable to hammock camping as well. (The idea would be that it would be similar to a top quilt and an underquilt, since there are layers of blanket both under and over you.)
Edit: found a video of it! http://www.youtube.com/watch?v=vOkDl...ayer_embedded#!