thomas
The problem you have to overcome is that cheerio box material is very thin compared to foam board. Foam board is stiff enough on its own to be used both as the skin and structure of a plane. Thin cereal cardboard will really only work well as a 'covering' for a load carrying structure inside.
Obviously the cereal carboard will easily resist tension forces but it will simply buckle with any compression. However if the cardboard is held in a curve it resists buckling so can take some compression force.
If you considerer a typical wing in normal flight the top surface is predominately in compression and the under side is in tensioner. Now the upper surface of a wing is curved.
So using 5mm sheet foam wing ribs I made cereal packet sized wing pieces.
Four panels fixed together made a 40" wing that fitted on my RC pusher trainer
A bit heavier that the foam and balsa wing it replaced but it flew ok.
Making a fuselage out of just cereal cardboard would be rather more difficult.
I hope this helps.