Weibring, who shared the first-round lead with Kraft and David Morland IV, shot a 2-under 69. Ryan Armour posted a 3-under 68 and is alone in third at minus-7.
Kraft began on the back nine Friday and promptly birdied his first two holes. He closed his front nine with three birdies in a row to make the turn at 5-under 31.
Kraft, a former PGA Tour member, bogeyed the par-4 third hole, but finished with three birdies in his last six holes. All totaled, seven of Kraft's eight birdies were inside 8 feet.
'I got done today and added it up and couldn't believe how many I made,' said Kraft, referring to his eight-birdie round. 'It really is one shot at a time so I don't know how many it is.'
Kraft established a new 36-hole record with his 129, one better than the old mark Joe Daley set in 2002 and Omar Uresti matched the following year. Kraft's five-shot cushion also matched the largest 36-hole lead on the Nationwide Tour this year.
Despite the spectacular 36 holes, Kraft knows there is plenty of golf left.
'You can't have enough when it comes to leading,' said Kraft, who earned one victory during his stint on the PGA Tour. 'I've been around long enough to know that it can change in an instant. I'm not going to get excited. I'm not going to count chickens. A lot can happen in 36 holes. There are creeks and rocks and rough out here and one swing can change things. There are big numbers out there if you aren't careful.'
Weibring mixed four birdies and two bogeys on his round Friday.
'This is the first time I've played well on Thursday and Friday,' said Weibring, the son of Champions Tour player D.A. Weibring. 'I know that I can't worry about what Greg or anybody else is doing. It's easy to talk about, but it's hard to do.'
Armour took the lead on his back nine, the front side, but found trouble in the bunkers at Glenmaura. At the par-3 seventh, he skulled one out of the trap and landed in a hazard en route to a triple-bogey-6. At his last, the ninth, he barely got out of the bunker, then holed a clutch 6-footer to save bogey.
'I gave a few back on those last holes,' said Armour. 'I've got to work on my bunker play. I feel like I'm hitting it good and I'm hitting it close. I made two poor swings coming in. They're the kind of swings that make you head to the range when you're done.'
David Branshaw (68), Dave Cunningham (70), Jess Daley (66), Jeff Gove (70), Troy Matteson (66), Bryce Molder (69), Brent Schwarzrock (66), Johnson Wagner (71) and Bubba Watson (71) are knotted in fourth place at 5-under-par 137.
Morland struggled to a 2-over 73 and is part of a group tied for 13th at minus-4.
The 36-hole cut fell at even-par 142 and 60 players made it to the weekend.