Sure, you may need to wire brush some areas too, just to remove the loose scaly paint and rust. Clean and rinse, then allow to dry completely before coating with RustSeal.
You can find complete instructions for RustSeal here: http://www.kbs-coatings.com/RustSeal-Information-and-Instructions_ep_38-1.html
You can also find Instructional Videos here: http://www.kbs-coatings.com/KBS-Videos_ep_90-1.html
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