This is a Schwinn American that I stripped the paint on, pained it first with Rustoleum rusty metal primer then Rustoleum Aluminum paint. Then waited a week and sprayed it with two cans of Duplicolor Chrysler Intense Blue to mimic Schwinn's Sky Blue. It is real close. Some say an exact match. Don't remember who I got the decals from, but I remember them being water slides. Over this will go a two part clear coat. I have a gun and compressor however, there are 2k sprays available in spray cans if you don't have a paint gun and compressor.
I liked Schwinn's Flamboyant paints. They looked good and they have that '70's look if that is what you are going for. I've also come to appreciate their solid colored paints as well. Not as flamboyant as their Flamboyant paint, but still good looking.
I also painted this Schwinn Continental with Campus Green paint.
It was decaled and then clear coated with a two component automotive clear coat.
I also have a Schwinn Heavy Duti that I painted with Rustoleum Rusty Metal Primer then Rustoleum Black. That was done 40 years ago ago, and it still holding up ok.
Duplicolor paint is expensive compared to Rustoleum but it is better. They do have good colors and they have spray nozzles with a fan pattern rather than the traditional cone pattern of most spray can nozzles. I did notice that Rustoleum has an indexting nozzle system on their new spray paint cans. I also bought House of Kolor paint that TCP Global packaged into an aerosol can for me. I used Aluminum colored paint for the flamboyant base (again) and it came out great. Excellent paint even in a spray can. Beautiful color and easy control with the nozzle provided.
The frame builders here can fill you in on paint guns and compressors. I have an amature set up that works well for me. I bought my spray gun from TCP Global as well.