Lets face it, Chaos cloak is way overpowered.
My suggestion is to break it up into a set of 3 class armors. (all have universal penalties except where they are pointed out) (type resist is given at the end of each description)
The Bomber line is already filled with the Mad Bomber set so we don't need one there; of course I would like to change the damage resistance to give more variety to the bombers. (lacks curse penalty) (Shadow resistance)
For the Gunner set the name would be "Brash Bandito" and it would be military themed and based on the Pre-GU armors. It would only affect gun CTR and DMG. (lacks freeze penalty) (Elemental resistance)
For the Swordsman set the set would be named the Soricifur set (based on Rabid wolvers) and would be "toxic" themed. It would only affect sword CTR and DMG. (lacks poison penalty) (piercing resistance)
Fun fact: the family Soricidae is home to several species of Shrew, which are in fact one of the few venomous kinds of mammals
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Considering each of these armor lines have a linear crafting path each of these would be crafted up from their respective line.
For the current Chaos Cloak we would halve all the boosts it gets and reduce it's defense a little (as penalty for universal boosts).
EDIT: Or make the "class specific Chaos cloak armor" have only half the status penalties that Chaos cloak has. (i.e. Mad Bomber would now be more status resistant than Chaos Cloak)
Just one thing. If you look at the Wolver sets, there's already one themed after Voltails, the Dusker set.