Can I fix a leak in a power steering fluid line with JB-Weld?

A short piece of rubber hose, and hose clamps? I awoke one morning to find my steering wheel was very difficult to turn. I checked the power steering reservoir and, sure enough, it was empty. I refilled it and my steering problems went away. Within an hour, they had returned again. I looked underneath the car and saw a steady drip of fluid. I got underneath the car and found a single metal tube with a rubber covering, all covered with liquid. Nothing else around it was really wet, so I assume I had found the leak. The tube looks like it's in relatively good condition, except for a one-inch section which is slightly corroded. Wiping it clean, I notice there is a single spot where liquid wells up - just like a small cut.

I plan on fixing this myself with some thin aluminum sheeting, JB-Weld, a section of rubber hose, and couple of hose clamps. I want to fix a small strip of aluminum over the leak with JB-weld and then clamp over that with a short section of rubber hose and a crap-load of hose clamps.

My question is this: Have I missed something? I often try repairs like this myself and overlook some important detail, leaving me up a creek without a paddle. Also, is there anything I can do to prevent this kind of line corrosion in the future?

Thanks much! You have no idea how much your advice means to an amateur mechanic like me!