I think that you really need a good way to get even clamping pressure over the entire surface. Perhaps you could make some clamping cauls and lay a piece of plywood over the surface to get uniform pressure.
Sorry but I think that it may be impossible to get even half of a 72x38" sheet and the substrate covered with TB3 or any PVA glues before it gets tacky. PVA starts to dry very quickly and that is a lot of area that you have to get evenly covered, get it in place, J-rolled and clamped flat. Sounds like a potential disaster to me. If you were talking about an area no larger than about 24x24, it might work but any larger and I think it is bound to fail. I've never tried them but Urea formaldehye glues may be a better choice than TB3 but also requires uniform clamping over the entire surface.
I am a little skeptical about the idea of reactivating the TB3 with an iron, if there is a spot that doesn't adhere. From my understanding, you will only get one shot at that. I've only every used heat to debond PVA glue and once it was heated, the glue was ruined and certainly would not readhere. I've seen a demonstration were you spread PVA glue on the veneer and substrate. Once the glue has dried, you lay it in place and iron it down. I have not tried it but the guy who demonstrated the technique said that if it doesn't adhere the first time, you cannot try heating it again. You get one shot at it. I would definitely experiment with the TB3 first with some cheap veneer on a practice piece.
I too have done hammer veneering with hot hide glue but doing that on a 72" long piece without experience might be a little challenging for a first attempt. With limited experience, I probably would also do it in strips narrower than the 38" as you have to get it "hammered down" before the HHG cools and gels. Hammering is soft like using a hard squeegee to press out the the excess glue underneath the veneer and requires no clamps, cauls or weight on top. Probably not the technique you want to try for the first time on such a large project but it is a great way to apply veneer.
--Nathan, TX. Hire the lazy man. He may not do as much work but that's because he will find a better way.