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I've got a coat I wore every winter for like eight years but didn't use this fall because a rain of macroplastics would follow me wherever I go. I can strip the pleather, flaking-paint material off to replace it with something but the fabric underneath is sort of thin and stretchy so I'd need to find something that'll help seal it against wind and rain again. I know they sell pleather paint but reviews said it's short lived or meant for patching lesser damage. It's probably a long shot but is there another option for doing the whole outside of the coat?
Otherwise it's still in great shape.
You could get flex seal and try painting it on. I just did that on pleather boots. It's not pretty, but it's cheap.