If you use good loop material its not a problem. I have 1000 arrows thru my current loop and still going strong
Yeah it's a good idea, you can buy them already made but I think it's just easier to tie a new one on if you're doing it yourself.
I was looking to replace my black D loop because when I hunt out of blind, it's hard in dim light to find it sometimes. So... I can wrap my D loop (which is perfectly fine) in a different color I can see better. Sounds like an idea perhaps...