I've done some "single blanket" stuff...both in living history and in the service...except that in the service they were synthetic and were called "poncho liners".
You want THICK if you're going to do this. Military blanket thickness might be good for high Summer, but remember those blankets are designed for use in a barracks setting....indoors where heat is available. You're also expected to be on a mattress and there isn't going to be any sort of wind.
When I first tried a wool blanket it was just as the Internet was taking off, and there wasn't an online venue to find demo videos. I went to a much thicker blanket, that was 60"x90" [5 feet by 7 and a half]. The first thing that I learned was that when wearing it as an outer garment, the 5' side was from head to knees, and the 7.5' was used around the body. You could arrange this to form a short of hood, and lower this over one's shoulders and still use your arms, or pull your arms within. It shed drizzling rain well. This was what is known as a "match coat" arrangement.
The first time I tried to sleep with this..., I froze...., there weren't a lot of dry leaves of any type to form a bed or shelter, and so we had an oilcloth roof over our heads...and a fire, but it was dang cold. EVEN when tried something different, I sat up and "slept" as I had in The Service by sitting, and leaning up against a tree, it was dang cold.
So I thought about the difference, and I realized the outer modern poncho over the synthetic poncho liner had reduced air flow. I had noticed that wool blankets do breathe. The second time I tried to sleep with this blanket, I covered myself with a small piece of cotton canvas tarp to reduce air flow, and immediately felt warmth reflected when the canvas was applied. BUT...., around toward morning the damp and cold came up from the ground, and I was cold again.
So I realized that the modern poncho was wrapped
around me in the past, so I tried that on the next trip, with a larger tarp that was under me and over me. Much better, but still not quite what I needed, as moisture and cold still came up from the ground. Then I noticed a guy in our party who was using only a blanket. He had a really big pile of leaves under and over his blanket when he crawled into it. I realized he was using the leaves to trap air around him and to stop air flow, just as I was trying and failing to do with my piece of canvas. He slept "well" for the situation, and when I discussed the matter with him he did mention that if sleeping in a pile of leaves was as good as indoors in a bed,
"We probably would not have needed to invent what we today call a bed". (Duh
)
This was about the same time that video tapes were being sold and I saw a fellow do a demo about "longhunter blanket tricks" and building shelters....and how to heat them and such....,
LD