I'm using an 87 R10 chassis for my Apache build. I totally stripped the chassis down and had the frame blasted. Then I primed it with a good primer and sprayed it with satin black. All off the shelf spray paint that is readily available. 2 good coats of primer and 2 good coats of paint, some areas got a 3rd as I was working on different stuff in that location. I had people telling me to powdercoat. I didn't know if I was going to have to make changes to the chassis as this is a custom build. Good thing I didn't, since later on I realized a crossmember had to be removed which left an area of the frame that I had to strip down and then spot in the primer/paint.
I did have a few parts powdercoated as the weather wasn't very good at the time and I was a little busy at work. They had 2 spring hangers, 2 u bolt plates and 2 motor mount plates for 2 weeks. While working on something near the spring hanger, my hammer missed it's mark and hit the spring hanger, a piece of powdercoat chipped off....I don't think I'm going to waste my time with powder coat on this truck any more.
With my offroad truck, I painted the frame and axles with Rustoleum gloss black with a paint brush. Laid it on thick. Didn't look nearly as nice as my Apache chassis, but it held up quite well for the several years I had the truck.