Bad idea. If you think that original paint is chipped, you will be shocked how fast the rattle can paint will chip. Do a search on rattle can paint jobs. Most are not very successful. The ones that seem to have success with it, do a tremendous amount of prep work, then they let the bike cure for a very long time. Once you read what it takes to do a decent job, just compare that to paying a local powder coater around $75 (that's the rate here), and the powdercoater will do all the prep work. And the paint will be very durable.