Have you considered parchment paper? It has good anti-stick properties, it’s food safe (probably doesn’t have Cl or other toxins), and has good heat resistance.
Your process could go something like this:
Laminate together
1/4 board for backing sprayed with Krylon #7020
parchment paper
medium tack transfer paper
Laser cut your stencil
Use low tack transfer paper to pickup the medium tack transfer paper from the parchment paper
Stainless steel foil is readily available. It is used in industry to protect parts from oxidization during heat treating. McMaster-Car sells stainless steel bags that are 12" x 18" and paper thin
I will also applaud your I have a Glowforge attitude but what you need is the equivalent of Oracal Oramask 813 in a non pvc material.
If you can find a material that already comes with a coated release paper backing then all you have to worry about is keeping it from moving due to exhaust and air assist.
Otherwise again this is the bread and butter of plotters like the silhouette mentioned previously.
@will_bain, I have the same challenge. I own a Cricut cutter and it’s very challenging for finer details. It uses a drag knife blade and can make a mess of acute angle, sharp corners.
So… I have a dream to try lasering my Ikonics Laser Tape with extra margin held down by magnets and placed Mylar backer down on a sticky substrate (perhaps @Jules’ version). Worries are that the Mylar backer to Laser Tape bond is not strong enough to resist the air assist (why can’t we make air assist variable?) and lasered bits would blow away. I can’t use a rigid backer because my target is a thistle-shaped whiskey glass.
Maybe we could put an adjustable louver on the air outlet at the back of the Glowforge? Partially closing it might create back pressure that causes smoke leakage, though.