Base coat/Clear coat painting is more difficult than acrylic enamel. The most difficult is putting on the clear coat without runs and getting it just right. This how-to explains just how to get that perfect glossy finish.

[edit] Steps

Remove or tape off any windows or non-painted trimming on the vehicle. Anything that you do not want to be the color of the car when you are done should be removed to avoid accidentally spraying them with paint.
Strip off all of the old paint in the places that need it using paint remover or by simply sanding all of it off of the vehicle. If the paint in good than you only need to sand it with 360 grit sand paper. You should be down to bare metal when you are done.
Spray only the places that you fixed with primer. No exposed surface that you plan to paint should be left un-primed. Let the surface dry completely before you begin painting.
Spray the entire surface with your base coat paint. Hold sprayer 6"-10" from surface and spray in smooth level strokes, overlapping strokes by about 50%. Check the paint manufacturer's instructions about drying times before sanding.
Wet-sand the base coat until you get a smooth finish.
Spray the entire surface with your clear coat paint. Let it dry completely before sanding.
Use a buffer and buffing compound to polish your clear coat and make your paint job shine.

[edit] Tips

2-3 coats of basecoat should be suficient for coverage. Be sure to allow the solvents in the paint to "flash-off" between coats to prevent drying problems.
"Flash-off" is the evaporating of the solvents in the paint. 5-10 minutes between coats is recomended based on temperature. A hazy finish means the paint has flashed-off.
Use a rubber block when sanding. This will prevent you from applying uneven pressure to the sand paper and sanding through. Rubber sanding blocks can be bought from a hardware store or vehicle paint shop.
After your first coat of base paint dries, apply another one. Try spraying several very thin coats of base paint to avoid runs or drips in your paint's surface. Try this with the clear coat paint as well.
Remember, if you make any mistakes (such as beading of paint) you can always sand it down and start a new over the top.
Also don't just dip the sandpaper in water - let it soak for a minute or two. That way its nice and wet

[edit] Warnings

The fumes of two stage paints are poisonous.
Do not sand with dry sand paper or a sand paper with a low grit rating. Wet sanding should be done using 2,000 grit, or higher, sand paper. This will prevent swirling the finish of the base coat and get rid of any 'orange-peel', 'FLA (Fat Lady's [Rump])', or bumps in the paint.

[edit] Things You'll Need

High-grit sand paper
Water
Bucket
Buffer
Buffing compound

Body Filler, Rust Converter, Primer, Spot Glaze [for pin holes], A source of constant dry air [compressor rated for spraying], A good spray gun [HVLP], LOTS of Patience!!