Sounds like a plan. Any experience with POR-15 before?
Don't get it on your skin or you'll be wearing it for several days. Use a proper respirator and have plenty of ventilation. As for application, how rough is the frame? regardless of what the reps tell you, it would be best to sandblast or dip it, then coat it. If you can't do that, then at least make sure all the heavy scale has been removed, and any heavy pitting has been ground enough to take down any high spots. Use a wire brush, sandpaper, grinder, etc.. on the rest. Make sure it is VERY clean. You don't want anything "poking thru" the POR-15 or you've wasted your time. You should also plan on topcoating it with something, and I would do this before it dries completely, since sanding is not recommended. Wait till you can just touch it without getting any on your fingers. If you brush paint it, try to get several people to help so the flash time between start and finish is kept to a minimum, otherwise by the time you get it coated, the first half will be ready to topcoat, but the second half won't. Hot humid days almost cut the drying time in half, also. Allow at least a 3 hour window open after your done coating so it can dry enough and you have time to topcoat.