That being said -- I'm not a beginner and I can't understand what he's talking about -- booleans for textures? o.o

I assume the model is made -- (s)he just wants a texture over it.

Select the model -- cylindrical projection -- rotate it to face the direction of the bullet.

Open UV texture editor under "windows" menu and save the UV snapshot with transparency. Use that 2d image to create your 2d texture in photoshop. Apply them as a diffuse and bumpmap.

I'd explain better but its 4am.