Acrylic enamel is fairly inexpensive and user friendly. You can get it in quarts here. You'll also need reducer and hardener.

http://www.tcpglobal.com/restoration...=RSP+AE1101-QT

A quart is enough for 2-3 bikes.

A basecoat-clearcoat job will cost more and clearcoat is not easy to spray on a bike frame.

I use a Sharpe MGF gun that I bought used for $40.

http://www.spraygunworld.com/product...%20SHP7040.htm

I'd say that you might be able to do it for $200.

It might make more sense to have it powdercoated cream and rattle can the lugs.