take a look at our development of a similar system which has been documented here on C.D. The sprinkler valve you mention has also been discussed on C.D. and even a very nice animated graphic shows how it works. It is a relatively slow opening with a membrane that does flap during exhaust. Does your cannon honk when it shoots? Ours did.
We currently use 1 inch black pipe with npt thread for air storage as it is rated for pressurized air and is available at hardware stores. Stainless pipe is also available. One could even use a 5 gallon Craftsman air tank with only cost $20. On our system, the valve is immediately after the black pipe so that the pvc tubing and barrel do not maintain pressure except during the shot. We got better results when going to the manual ball valve but the best results are with the valve rated for this purpose. The local Parker dealer donated the valve to our team as it lists for $100.
Craftsman air tank
Ball Valve
Parker Valve