$\DeclareMathOperator{\colim}{colim}$$\DeclareMathOperator{\Th}{Th}$I am trying to give a hands-on proof of the equivalence of spectra in the title. I am using the definitions $\mathbb{RP}^{\infty}_{-1} := \colim_k \mathbb{RP}_{-1}^{k}$ and $\mathbb{RP}_{-1}^{k} := \Th(- \mathbb{L}, \mathbb{RP}^{k+1})$ where $\mathbb{L}$ denotes the canonical line bundle on $\mathbb{RP}^{k+1}$. Moreover, if $E$ is a vector bundle over a compact Hausdorff base $B$, then I use the definition $\Th(-E,B) := \Sigma^{-n} \mathrm{Th}(E', B)$, where $E'$ is a vector bundle over $B$ such that $E \oplus E'$ is trivial of rank $n$. Such a complementary bundle exists by Proposition 1.4 in Hatcher's book on K-theory for example.
In the case of the canonical line bundle on $\mathbb{RP}^{k}$, I think we can find explicit complements as follows. I read (see Adams' paper on vector fields on spheres for example) that the virtual bundle $\mathbb{L} -1$ generates $\widetilde{\text{KO}}(\mathbb{RP}^k) \cong \mathbb{Z}/2^{f_k} \mathbb{Z}$, where $f_k$ is the number of integers $i$ such that $0 < i ≤ k$ and $i ≡ 0, 1,2$ or $4\mod 8$. So $2^{f_k}(\mathbb{L} -1) = 0$ and I think the definition of $\widetilde{\text{KO}}$ now implies that $2^{f_k} \mathbb{L} + n_k \mathbb{1} \cong (2^{f_k}+n_k) \mathbb{1}$ for some $n_k \geq 0$.
My question is if we can give a proof of the equivalence $(\mathbb{S}^{-1} \otimes \mathbb{S}^{-1})_{h \Sigma_2} \cong \Sigma^{-1} \mathbb{RP}_{-1}^{\infty}$ in this setting. The fact that Thom spaces of universal bundles can be identified with representation spheres will probably be helpful (applied to the universal $\Sigma_2$-bundle $S^{\infty} \to \mathbb{RP}^{\infty}$). Somehow I keep running into trouble when trying to write down a proof.
Hopefully my question is clear enough. If you can't answer my question but know a different proof of this equivalence (perhaps in a different setting) I would also be interested in that. Thanks in advance!