Here are the steps I took and the secret is taking your time.
1.Sand everything down to metal/plastic. I used a 240 grain sand paper.
2.Smooth is out using a 1000 grain sand paper and water.
3.Spray with spray putty.
4.Sand again with 1000-grain paper and water.
5.Spray on white paint and again sand with 1000 grain paper and water. Repeat this several times. I did this about 6 times.
6.Spray blue paint same as step 5.
7.Sand again with 1000-grain paper and water.
8.spray with clear coat. Again many thin layers. This is the most difficult as you get runs real quick if you spray to thick. Patience is the only way.
9.Polish, polish, and polish some more.
As you can see this takes a long time but I think the result justifies the effort.
As for the paint it is a paint called Dupli-color RAL5002 and some Rally white but I have done this with different paints and the result is the same.
Just finished the first part of my Bikes respray. As I do not have a compressor I had to use spray cans. Once it's done I will send a picture of the completed job.
Let me know what you think of it?
Come on someone give me some stars as I am sick of being a squid after all I was riding bikes when most of you were still on a bicycle.