Join Date: Nov 2008
Location: niagara region
Bikes: 1987 bianchi campione d'italia, 1970's eatons glider, 1990's hybrid, 1992 trek antelope
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Last year I painted a bike with spray cans and learned lots from the internet before attempting it. It was a lot of work. If the offending colors are stickers, you can remove them and have at it with a light rubbing compound then wash and wax.
As for your last question, try asking the folks that do powdercoating in your area. Your best reply will start there. If you have all winter, all the better for researching for prices and stuff. My brother painted his old Raleigh and it cost him around 100 bucks and that was for spray cans, tack rags, pinstripping, sandpaper etc. For another alternative, you can try painting with a brush.