When painting my bike I first had to take my bike apart. This process was very informative. It was quite a learning experience! I had to go backwards through all the steps of putting it together an then some. I had to strip it all the way down.
Before any painting could actually happen, I had to sand down the paint so that the spray paint would have something to attach to. When sanding it down I didn't want to go all the way down to the metal because I had a perfectly good layer of white primer already on the bike. After all of the sanding I had to clean it off so I used some alcohol so that it wouldn't have any oil on it. When there is oil in the bike from my hands or anything else, it messes up the paint. It gives it a ripple effect. But when it is cleaned properly, the paint should end up perfectly smooth.
In order to paint my bike I had I find a place that would hold the bike for me while I sprayed on the paint. I decided I zip tie the bike to a chain and let it hang from that. The zip tie was looped around the part of the bike that I wanted I stay white so there was no worry of having the outline of a zip tie in the final product. This method of hanging also made it so that I could spin the bike to get to other areas of the bike that would have been much harder to reach had it been any other way. The only problem with this was that the painting was done outside so it was exposed to all the dust and grit that was outside. This, fortunate, didn't cause too much of a problem in the final product, but it would have been much nicer to have been able to paint indoors.
The first layer of paint that I applied was black because it was on all the joints. This made it easier to paint the rest of the bike because I only had to deal with all the joints once.

The second coat was yellow because it was the lightest color and I could paint over it in the other, darker colors, and they would not be affected. The yellow was the largest section of the bike and took the most paint. It also took more layers because the yellow paint is always so thin and transparent.

The next day, after letting the bike dry in the basement, I hung the bike back up outside and put on two clear enamel coats of paint. This was to ensure that the paint was on there fairly well and that it wouldn't get scratched too easily.
After all of this painting and drying I put the bike back together again. This was surprisingly easy to do. The only thing that I had trouble with was the headset and the fork. I eventually figured it out though an got the whole bike back together.
Here's the final product!