This tissue/glue thing is an old Estes technique. If you pull up the kit instructions on something like the old Astron Ranger (three BT20 MMTs inside a BT60 airframe tube) there is no mention of centering rings (did they even have such a thing as CRs back then?).
I always thought that most of the purpose of including some tissue was to stiffen the glue, so that it stays put when you pack it into place. (A big plop of glue would simply drain out the end of the MMT.) So, as to the proportion of glue-to-tissue, maybe you should start with a little extra tissue in the mix and if it is too stiff to work with, then start adding more glue a few drops at a time. skyspike1's idea to use "Q-cell" powder (probably microballoons, just like we use to mix with epoxy) would be another good way to go, if combined in a stiff enough mix.
Micromeister has already given you a really good list of ideas and materials. I have also used tissue paper and it works just fine. The only thing I would warn about is the tendency for "white" glue to shrink as it dries, and a big wad of wet tissue/glue could easily cause a wide zone of shrinkage. Use of carpenters (yellow or brown) glues will reduce this effect. The gorilla glue idea from terryg sounds like a really good one---I don't think GG does the same "shrinking" act as it dries.