Just like hotrodfil, I used free leftover aluminum. Unfortunately it was 14 gauge (I went and measured). It was too hard to bend over my knee or my oxygen tank so I used a roller at the sheet metal shop. It also tore at the corners when I louvered it. Free sometimes costs too much. Go with 20 gauge.
I’m not real familiar with T hoods, but the A and later Ford hoods had the front and back edges hemmed on themselves, not on a wire. Just flat over. It made them plenty firm. Did stock T hoods have a wire in the edge?
The original body would have been 20 gauge as I recall. I use 18 gauge steel a lot because it takes less stiffening bends. A lo depends on how the part is being made. Is it smooth? Will it had a lip rolled on the sides, front and or back? Will it be louvered? All that makes a difference. 20 gauge is easier to work but 18 gauge makes a more substantial part.