If you are talking about the roller thing, it actualy does work. My father did it on an 86 coupe with rustolium brand latex house paint. Did the same with one of his boats.
But if you want a cheap spray job all you need to do is ask around. One of the best paint jobs Ive seen (aside from show cars) was done by a guy who lives just down the road. He charged me $300 to help me prep and then he did all the spray. Maybe $300 more in materials. It was bright red and we could read his watch off the reflection of the hood from 3' away. Just need to stay away from the big shops with thier big overhead. A guy who has a paint booth setup in his barn like this guy would be more than happy to make $300-500 for 2 days work.