A method of forming a thin-walled polymeric tubular member for an intralumenal device, and the member produced thereby. The thin-walled tubular member extruded using the method of the invention is suitable for use a sleeve for a catheter shaft or balloon. The thin-walled tubular member has a single wall thickness of not greater than about 0.003 inch (0.0076 cm). In the method of the invention, the thin-walled tubular member is formed by co-extruding a thin-walled first polymer layer with a removable second polymer layer, and the two layers are separated by dissolution or physical removal of the second layer, to leave the first layer, with the first polymer layer forming the thin-walled tubular member. Because the method of the invention involves co-extruding a removable second polymer layer along with the thin-walled first polymer layer, conventional tooling dimensions in the extruder may be used.