Soo I'm not sure if anyone has done this before, but I haven't found anything yet so I'm going to go ahead anf share my Eureka moment
I was making a new stuff sack for my bugnet, normally I would add a drawstring for closure but this time I decided to experiment with some shockcord. I passed the shockcord through the end channels and the pulled the top part mostly closed. Then I tied an over hand not in the shockcord and wa-la, I was done. I simply pull the cord open to shove the net in and it collapses and holds tight when its all stuffed in.
I'm not sure how long this will last before stretching or breaking, and Im not sure how it will do with heavier stuffed items, but it works for its current application.