Jim,
Your system would still be almost the same if you substituted Rustoleum solid colors for the Lusterkote. In my opinion, Rustoleum is a better product than Lusterkote ever was. (I've used both, and swore off LusterCrap after a couple of bad experiences with inferior product.) That said, there is no clear Rustoleum product that is suitable. So for your trim, come up with a method that is durable enough without the clear, or go read the endless posts about the two-part-in-one-can spray. Be careful, it is almost a religion....
If you are spraying Rustoleum over Monokote or similar, don't use the primer. The issue is that fuel will lift Rustoleum, so you can't let it contact an edge that has primer under it. The primer will wick fuel; it is not fuel-resistant. In other words, masking once and spraying primer, and then topcoat will result it lifting of your paint if it gets any fuel on it. It doesn't go thru the Rustoleum, it goes under it from the edge and you get a wrinkled gooey mess.
I have had success spraying trim over open bays, but in general I try to avoid schemes that require this.
I mask with electrical tape to get a sharp edge, and then scuff the Monokote with gray Scotchbrite. Wipedown with isopropyl. This seems to provide adequate adhesion. I have not seen any paint popping or chipping.
While Rustoleum is serviceable, I have mostly switched to KlassKote. It is better all around, except for convenience and cost. And it really needs to be sprayed. Since you are working without spray equipment, the Rustoleum looks like a good option. The other thing you might look at are the Duplicolor automotive spray cans. I have not used them, but have seen other planes turn out nicely. You would have to read up on it to be sure it would meet your needs. One potentially big advantage is the much different color selection. Rustoleum kind of covers the basic colors--period. That may not be the look you are after.
Don't forget about the Preval sprayer. If you are not doing large areas, that might open up your options without buying a spray outfit.
I'm sure there are dozens and dozens of past posts that go into details on 493 variations of rattle cans. You need to find one that suits your needs, skills, and tools. Just be careful that you are not mixing and matching pieces of systems that don't really work together. You know that drill. It is kind of like Mr. Toad's wild ride. Don't know where you are going. Don't know if you will get there. Not sure why you got on. But by golly, it's going to be a wild ride! (And the plane may turn out looking like a toad....)
Lots of really nice looking planes turned out via the rattle can methods. I'm sure you can find pictures here.
Divot McSlow