You totally can use rubberized undercoat inside the cabinet, but probably no additional benefit if you're also using something like the No-Rez panels. If you aren't using No-Rez, them yeah it could be good. I actually like the Evercoat version better but 3M is the big name.
And yes, there's always health risks with good automotive products, but nitrile gloves and a proper cartridge respirator keeps you safe.