I have a blue Z and I painted my brake calipers red myself. I did it about 4 months ago and they still look like they were just painted, no chips/fading or anything. All I had to do was take the wheels off and take walmart plastic bags and tape them around where I did not want the paint to go, and spray away. But first, I took brake caliper cleaner and sprayed it down good and took a wire brush and scrubbed them til they were completely clean (this is very important). I bought VHT spray paint that resists high temperatures and sprayed 4 coats on each caliper. Everything together costs about 15-20 bucks total, a lot cheaper and less hassle than powdercoating. But, I'm sure powdercoating is a more professional way of doing it, but I'm completely happy with the spray paint way.

depends on if you have sport package brakes or not. the paint wont stay on the sport package brakes well because they are already painted. If you have base brakes, go and paint until your hearts content.