Rustoleum is a paint designed for use on metals subject to corrosion. It contains a fish oil and dries quite slowly. While I have never painted a fiberglass rod I would suggest you try any method as an experiment on an area BETWEEN any guide wraps so you could remove it if necessary. I'd also test the use of lacquer thinner as a remover. It would also be anadvantage to spray it on using an airbrush as ised by artits and model railroaders. Model RR paints also come in various degrees of gloss and are made to go on in very thin spray coats. Don't use a brush or a coarse aerosol spraycan.