I have a shielded AC cable with 2 conductors : can I use it to make a power cord with the 2 conductors connected to Neutral and Phase and the outer shield connected to Earth ?
I once used a bit of braided 2-core cable and when I wired the plug a little whisker of screen shorted and made it go bang.
As I was a cash strapped teenager at the time It worked with a new fuse.
"It worked" only in the sense that the equipment would turn on. It very likely didn't work in the sense of protecting you from electrocution in the event of a fault.
For my AC cables I followed the build here: DIY Belden 83803 Mains Power Cable - Audiophile Power Cord
using Belden 83803 cable.
Very DIY and not crazy expensive. End result a very nice shielded mains power cord to help minimize unwanted noise.