Here is what I use. "Cold cure" epoxy if the stock will see weather (made by West Systems and available at industrial plastics). Designed specifically for laminating and doesn't require a temp controlled environment ie will work in a garage.
Normal metal or wood clamps are all that is necessary to hold sheets together. The glue is way stronger then the wood. You just need to make sure the layers are firmly together with no voids. Now you don't need to go to 1/8" veneer either.
Taking a 2 or 2.5" thick slab and cutting it into 1/2" or 3/4" sheets then gluing together will make a huge increase in strength. Couple of companies make 'wood' stocks that way so you have the beauty of say Claro walnut with the stability of a lam birch stock. If you really want stupid strength, just put a layer of 2oz fiberglass cloth between the layers. Just keep the cloth away from the edges so that it will not show when shaping. You are not breaking this stock unless you are really, really motivated.
Hey, if you want a baseball bat, just sub some kevlar instead.
With the Cold Cure, you can still inlet quite easily. Reg. wood glue will machine better but this epoxy will feather during the sanding stage. No issue with water now.
The bedding epoxy I now use comes in a two tube syringe from Can tire or Home hardware. Made by Lepages. A fast cure time so have your ducks in a row but works as well as the Devcon steel and other common brands.
Have fun with your project.
Jerry