I don't think lining the plastic with aluminium foil and LEAVING AIR POCKETS will help. Air tend to act as an isolator, trapping the heat inside the contraption, also aluminium foil is a shiny metal which cannot radiate infrared radiation(aka heat) as efficient as a black body will.
http://en.wikipedia.org/wiki/Black_body
look here for explanation.
just my 2 cents
aluminum does not retain heat, take a piece out of a 400deg oven and you can handle it bare handed in a matter of seconds, it will act as barrier also. If the ballast gets to the point it would cause the plastic to ignite, the aluminum will diffuse the heat and spread it out more than straight ballast on plastic. Air gaps would help to diffuse it even more (the whole idea behind insulation is pockets of air that prohibit a fast transfer of temperature up or down. The point he's wondering/worried about is the ballast getting too hot for the plastic. I've made a reflector for a 400w hps bulb (which gets plenty hot) out of cardboard lined w aluminum, worked fine without a worry for the cardboard getting too hot. They use thin mylar sheeting as insulation in the space program to protect heat sensitive instruments, all mylar is is aluminized plastic. Try it out, monitor it closely and see if it works.
We don't need to get technical w black body radiators for this one lol.... Shit bolt it all to a 2x4, a ballast won't get hot enough to light that on fire, but it can melt plastic, soooooo.
You can place aluminum foil over a flame, w a cotton ball right on the other side, the cotton won't ignite cuz the aluminum is able to dissipate heat so efficiently. . . . .