I've done it with a caliper brush kit in red. It wasn't too hard at all. Buy lots of brake cleaner and use liberally. Mask off brake rotor, line and bleeder etc. brush on a coat, let sit and add a second after an hour or so.
My method was to lift one side of the car and do both wheels on that side. I did it with my car just outside of my garage. I let it dry as long as I could (hours) and then put the wheels back on and push the car into the garage. Did the other side a few days later.
I did not add clear and the calipers have held up quite nicely...been about 8 years and I'm just now thinking about doing it again.
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