Glueglo - how to fix?

[henry5]

Hi all,
As some will know, I have a special love for the very early ‘70s pre-skunk, small headstock/walnut wings 4001. My main bass, my favourite Ric (and indeed bass) that I’ve ever played, is pre-skunk Feb ‘72. To me, they sound different than the skunk stripe basses, even allowing for variations from bass to bass.

However whenever I look at getting another from that era, they almost exclusively seem to be suffering from the dreaded Glueglo, with disintegrating binding. Is there a way of fixing this? I’m guessing you could replace the binding, but I’d be worried about it happening again. Does anyone know if this is a legitimate issue? Is there a way of stabilising it?

Also, is it possible to replace the binding without completely stripping the guitar? And does anyone know what the correct binding would be, size-wise, for that era?

Thanks!