Here's a how to site: http://www.paintyourownguitar.com/
There was a guy who builds/restores guitars (including some cool Saga Kits) at www.guitarattack.com . Go to "Builders Gallery," and click on the FrankenStrat picture. He does a very accurate EVH style strat copy using spray paint to good effect. This is a very informative site, with info about guitar setups, etc.
Hope this helps!