I have (somewhere deep in a box) a Paasche VL. It was possible to lay down enough paint for base coats on an R/C car body so it should be possible for a bike frame which is of similar scale. Also, I'm willing to bet the sort of paint would make it work better. The stuff for R/C car bodies was water-based and dried fast, making it fairly "crusty" for lack of a better description. The white was the worst, and most used. Stuff with a slicker medium and finer ground pigments should work even better.

I also had a Testors Aztec brush with the plastic nozzles and I don't think it would have worked nearly as well for large quantities. But it wasn't junk.

I ran them with propellant cans and with shop air compressors, I never had a dedicated airbrush compressor.