Elastomeric paint on interior basement walls

I am interested in whether elastomeric paints commonly used on exterior stucco would make a good interior covering for a 150 year old stone basement. There are decades of flaking mortar, plaster patching, and white washings that I would love to seal behind a thick polymer coating.
Would it work? Any pre-treating of the walls required? Any toxic fumes issues due to spraying in enclosed space?
Thanks in advance.
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Elastomeric ??? Crap ? , Paint is best on stucco or otherwise , so is removing all bad loose paint and debris and cleaning first.
Failing paint is from moisture not the paint in a basement, fix mortar and leaks, scrape , clean and use latex paint. Not Elastomeric BS,
Latex paint is Elastomeric...
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