it sounds like alcohol was involved in some decision making:) Would you show us your progress, please?
regarding linking two generators, if they are DC output of the same voltage, a pair of isolating diodes are all you need.
regarding getting motors and generators wet, if you take them apart and rinse/clean/dry after every submersion, you could likely get away with it for a while; using low voltage M/G stuff may keep you from electrirfying everything. It would be a good idea to seal all the electronic connections, and keep the electronics as dry as possible. Corrosion will be the worst problem cause.
TTFN,
Dennis