I took my aluminum frame down to bare metal using Klean Strip Strip X, which was absolutely fantastic. It's water clean-up, and two applications of Strip X and some work with a wire brush took off 99% of the paint in about 30 minutes. No need to resort to Aircraft Stripper-- that stuff is nasty, and you're guaranteed to get at least one chemical burn.



I then sanded the whole frame using just 400 grit paper. Wiped the whole frame down with Klean Strip After Wash (I highly recommend, it leaves an absolutely grease/smudge free finish) then sprayed (rattle can) with Duplicolor Self-Etching Primer. I put on four coats of primer, let dry for about an hour, full wetsand with 400 grit, then two final coats of primer. (fork in background)



The primer only had to flash for like 30 minutes, so I went immediately to color coat. Now if you're using rattle cans or brush or any other similar method, this is going to be the longest part of the process, because they're all solvent cured, non-catalyzed finishes. Typical spray paint will take at least 24 hours to dry to the touch, and not be fully cured for around a week. I used a two-part catalyzed firearms coating called Duracoat, which dries to the touch in less than 15 minutes and can be reassembled in as little as four hours. It's also very durable.



I went with WWII OD Green for the frame and Matte Black for the fork. Total cost for the project, including stripper, after wash, sandpaper, Duracoat was around $80. I painted it in August of 2015, and it's holding up remarkably well. I've touched up a few spots (using an airbrush) since, but for the most part the finish is undamaged. I know the OP mentioned not having spray gear (I used a small HVLP gun) but you can get Duracoat in single-use spray cans, and if you go with regular rattle can, touch up is no problem either.

Oh, also, if you have an auto paint supplier close to you, they can mix your color and put it in an aerosol can for you. I've had this done before, usually ~$25 for a std. sized can, depending on the paint you go with.