I don't understand the prohibition against acetone as a solvent to clean the frame. Certainly, any cleaning process would allow adequate time for solvent evaporation. Acetone is extremely volatile and dries completely and quickly. Put the frame in the sun and let it get hot and the acetone WILL be gone.
So, given that, is it the residues left behind by acetone cleaning that are the problem?
Alcohols are slightly polar so they will remove water adsorbed onto the surfaces. IIRC, acetone does not do that. Is that the reason?
If I ever needed to paint an entire bike, I think I'd go for two-part (catalyzed) automotive paint but this is good alternative.