shower walls without tiles
I have a bathtub installed with shower already and am finishing the walls and do not have to the time or the money to put in tile. Can I just paint the dry wall with several coats of waterproof paint or a shellac? I previously tried using a cheap, fake-tile-board glued to the dry wall that leaked within a couple weeks so we ripped it out. In our downstairs bathroom, we've used fibreglass sheets that come in 4x8 ft but is so difficult to cut and work with, we don't want to use it again.
what I thought of originally was to paint the walls a color or design and then once its dry, paint over it with several coats of clear waterproof paint. Or shall I just get a waterproof paint in the color that I want? How many coats should I paint?