Cast Iron Sewing Machine

I have not attempted to paint a cast iron item yet. I want to practice on this antique Singer model 27 that I was gifted. I hope to practice on this one and gain experience for my Singer model 66 that I am refurbishing. If I am lucky both machines will look great and function again. This model 27 Singer machine has some rust, which I am working on. It is also frozen, so I am liberally applying oil to see if I can get it moving again.

What products would you recommend for stripping and repainting this cast iron machine. It has a lacquer finish that is mostly worn off and a flat black paint. I plan to paint it a bold color. I am thinking maybe lime green or turquoise. I have this project slated for April so I can watch how to videos, get supplies and most importantly to get expert advice from Rustoleum. I love power tools and I am not afraid to tackle any projects. Thanks for you help!