Sandblasting can damage even a steel good bike frame since it will be made of thin wall tubing and, if brazed, it can damage the joints. there is not any excess metal to tolerate the abrasion. Cheap, thick wall steel bikes can be sandblasted safely but that's not what you are interested in.

BTW, Aluminum frames are even more vulnerable and for a carbon frame it would be suicide.

If you want to strip the frame to bare metal and the bike is brazed or welded, chemical strippers can do a good job without harming the tubes or joints.